Rio Tinto announced on Friday that as part of its ongoing “focus on efficiency and costs” it has streamlined its organisational structure   -- product groups and corporate functions -- with immediate effect.

“Under the new arrangements, Rio Tinto’s world-class portfolio of assets will be condensed into four product groups: Aluminium, Copper and Coal, Diamonds and Minerals, and Iron Ore,” the company stated in a news release.

Rio’s coal operation has been combined with its copper division to form a new Copper and Coal product group with the  Chief Executive of the copper operation,  Jean-Sébastien Jacques leading it.

Uranium has been added to the Diamonds and Minerals product group, under the leadership of product group chief executive Alan Davies.

The Aluminium and Iron Ore product groups remain unchanged.

“As a consequence of the restructuring, Energy chief executive Harry Kenyon-Slaney will leave the business,” the note from the company stated.  “A number of key corporate functions will also be reshaped to further reduce costs and improve effectiveness as part of an ongoing optimisation programme.”

Rio Tinto chief executive Sam Walsh said “These changes are part of our continuing business transformation to reduce costs, simplify and strengthen our company and deliver sustainable value for shareholders. Our coal and uranium assets remain a part of our world-class portfolio. We will work hard to ensure there is a smooth transition for our colleagues in the Energy product group and continue to maximise efficiencies in our coal and uranium operations.”