FILE PHOTO: A view shows the Rio Tinto logo in Perth, Australia, April 19, 2025. REUTERS/Christine Chen/File Photo

MELBOURNE, Dec 4 (Reuters) - Rio Tinto CEO Simon Trott outlined a plan to focus on cost cuts and productivity gains at his first strategy day on Thursday as he undertakes a divestment plan to simplify the structure of the world's largest iron ore miner.

Measures that Rio would take include a 4% cut in unit costs from 2024-2030, the miner said in a statement.

Rio also said capital discipline, rising prices for its commodities and 20% growth in copper production could help boost its earnings by as much as half by the end of the decade.

In August, Trott said Rio would streamline its structure to three core business units from four, to focus on profitable assets. Assets up for sale include Rio's titanium and borates businesses, among others.

The miner also upgraded its 2025 copper production forecast, citing a ramp-up of operations at its Oyu Tolgoi project in Mongolia.

Rio said it now expects 2025 copper production between 860,000 and 875,000 metric tons on a consolidated basis, compared with its previous forecast of 780,000 to 850,000 tons. It expects copper production between 800,000 and 870,000 tons in 2026.

While Rio Tinto's profits primarily stem from iron ore, the miner is shifting its focus towards copper, aiming to reach an annual copper production of 1 million tons by 2030.

Copper prices have reached record levels and the commodity is expected to be in high demand during the transition to greener forms of energy.

Rio said it remains on track to boost copper output at Oyu Tolgoi by more than 50% this year and by about 15% in 2026.

(Reporting by Himanshi Akhand & Rajasik Mukherjee in Bengaluru; Editing by Subhranshu Sahu)