(MENAFN) Anglo-Australian mining giant Rio Tinto announced it was merging its copper and coal divisions as a part of an ongoing cost-cutting plan, Oman Observer reported.
The world's second largest miner, which has increased output and reduced costs on a fall in commodity prices, said that its assets would be streamlined into four units.
Rio Tinto didn't say it the restructuring plan includes any job losses, but it is understood that the miner is set to cut several hundred from the iron ore where it employs 12,000 staff.
"These changes are part of our continuing business transformation to reduce costs, simplify and strengthen our company and deliver sustainable value for shareholders," chief executive said.
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