Base Metals
Rio Tinto evaluates strategic options for its titanium business
Rio Tinto Ltd. is evaluating strategic options for its titanium business, including a potential sale, amid persistently weak global prices and falling returns.
The review comes as incoming CEO Simon Trott prepares to take over next month, with expectations he will sharpen Rio’s focus on core assets such as iron ore, copper, lithium, and aluminum.
Sources confirmed the company is weighing a divestiture of its titanium unit due to low margins, driven in part by China’s dominance in the titanium dioxide market, where it holds over 50% market share. No formal sale process has been launched, the sources said.
The titanium business sits within Rio’s Minerals division, which reported a 24% decline in EBITDA last year to $1.1 billion.
The company’s major titanium assets are located in South Africa and Canada.
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