(Alliance News) - Rio Tinto PLC on Monday said it has promoted Bold Baatar, chief executive for copper to group chief commercial officer with effect from September 1.

The London-based mining corporation said Baatar will "immediately" assume accountability for group business development, before relocating to Singapore to assume his new role.

Baatar succeeds Alf Barrios, who will be retiring at the end of 2024. Barrios will remain as CCO until the end of August, and will stay on as chair for China, Japan & Korea.

Rio Tinto said that alongside the CCO role, Baatar will remain as its executive committee lead for the Republic of Guinea and continue overseeing relationships with joint venture partners on the Simandou iron ore project in the south east of the West Africa country.

Baatar joined Rio Tinto as chief executive for aluminium in 2014, before becoming its copper CEO in February 2021. Rio Tinto said it will announce his replacement for copper "in due course".

"Bold is ideally suited to help deliver our strategy of building a stronger Rio Tinto for the future and growing with discipline, as he leads our commercial and business development activities," commented Chief Executive Jakob Stausholm. "He brings deep experience across geographies, commodities, and markets - and combines strong business development expertise with a focus on developing world-class relationships."

Rio Tinto shares were up 2.5% to 5,098.00 pence in London early on Monday morning.

By Emma Curzon, Alliance News reporter

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