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to the post of chief commercial officer, in a move deemed by analysts as a clear indicator that the company sees in the Mongolian national a strong candidate for the top job.copper mine in Mongolia. He takes the commercial post in September from Alf Barrios, who is retiring and will leave the company at the year’s end, Rio Tinto said in the statement.
The decision comes as the mining giant sharpens its focus on key metals, including copper, a critical component in the global transition to renewable energy and electric vehicles . “Bold brings deep experience across geographies, commodities, and markets – and combines strong business development expertise with a focus on developing world class relationships,” CEO Jakob Stausholm said in the statement.
Baatar is seen by investors and analysts as a top contender to succeed Stausholm, who assumed the top post in January 2021. The Danish national has beenBerenberg’s analyst Richard Hatch, said Batter’s promotion could potentially be another step towards him taking over as CEO of Rio Tinto.
Rio Tinto said Barrios will continue to serve as COO until the end of August, after which he will transition to the role of chair for China, Japan, and Korea, before retiring from Rio Tinto by the end of the year.Iron ore price nears two-week high on stimulus bets, post-holiday restockingTalks between the two sides on a trade pact collapsed last year with Canberra unhappy over access to EU markets for its farm goods.
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