Rio Tinto to sell off some Alcan assets

Rio Tinto Ltd （ASX:RIO） is gearing up to sell some of its Alcan smelters and refineries in an effort to improve the business.

According to The Australian the asset sales are part of Rio's strategy which also includes cutting costs, getting more out of existing assets and investing in new assets.

CFO Guy Elliott has told the paper that Rio will be looking critically at the assets within the portfolio that do not have much upside in terms of expandability or extension of life and, perhaps have to find a new owner for those assets.

Rio Tinto booked a net profit of $7.36 billion in the 2010 financial year.

（source from Finance）