{
  "id": 9502394,
  "title": "Mining giant Rio Tinto plans to expand metals trading business",
  "url": "https://urgent.news/2026/09/24/mining-giant-rio-tinto-plans-to-expand-metals-trading-business-9502394",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-24T05:55:13.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/mining-giant-rio-tinto-plans-expand-metals-trading-business"
  },
  "original_language": "en",
  "account": "Rio Tinto Group intends to broaden its trading activities to encompass more metals and derivatives, as part of efforts spearheaded by its recently appointed leader to enhance business agility, according to individuals acquainted with the firm's strategy. This move aims to capitalize on the expertise of Glencore, a rival entity with extensive trading networks, and its robust copper portfolio, despite Rio Tinto's historical limitations in extracting maximum value from other business segments. The company, the world's second-largest miner, derives profits from sources ranging from iron ore in Western Australia to aluminum in North America. However, it has not been as successful as peers in optimizing all facets of its operations. Previous attempts to bolster its trading operations, including two rounds of negotiations with Glencore, were abandoned. Rio Tinto does not intend to emulate the standalone trading behemoths but seeks to significantly elevate its current business model, led by Bold Baatar, the chief commercial officer. The expansion will include third-party trading, an unprecedented move for the company, and will focus on areas such as the alumina market and North American copper market, where it has excess smelting capacity. Additionally, the firm plans to employ financial derivatives to hedge its positions. Rio Tinto intends to leverage its existing trading infrastructure in Singapore to bolster its trading capabilities.",
  "summary": "This is part of a drive by its new leader to make the business more agile",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Mining Giant Rio Tinto Plans to Expand Metals Trading Business",
        "url": "https://urgent.news/2026/09/24/mining-giant-rio-tinto-plans-to-expand-metals-trading-business",
        "published": "2026-09-24T03:00:49.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}