Simon Trott will succeed Jakob Stausholm as Rio’s chief executive on August 25. Rio’s Pilbara mines managing director Matt Holcz is taking the reins from Mr Trott as the chief of the iron ore division until a permanent appointment is made.

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0411 ET – Miners Rio Tinto and Antofagasta are among the FTSE 100’s biggest gainers in morning European trade after their production updates.

Mining giant Rio Tinto (RIO) said on Wednesday that Donald Trump’s tariffs on Canadian aluminum resulted in a gross cost of about $300 million for the company. The U.S. initially imposed 25% tariffs on steel and aluminum products from Canada in March,

Rio Tinto expects annual copper output to come in at the top end of forecasts just as President Donald Trump prepares to slap hefty tariffs on US imports of the metal.

Simon Trott's marching orders from Chair Dominic Barton are to improve the $100 bln miner's financial discipline. On paper, it'd mean slashing expenses by 14% to match BHP's margins. But Rio's need to invest to keep iron ore flowing will limit how much of the gap he can close.