Rio Tinto (RIO.US) new CEO seeks a $100 billion reinvestment plan, shrinking the lithium business and returning to focus on iron ore and copper main channels.

Zhtng Cijng APP learned that mining giant Rio Tinto (RIO.US) newly appointed CEO Simon Trott outlined plans to raise up to $10 billion to reinvest in core businesses, while scaling back grand ambitions including the lithium business to create a streamlined mining company focused on core areas such as iron ore and copper.