All rights reserved. MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm said “We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID-19. A latex peel taken from the wall of the oldest rock shelter has been on display in the Brockman 4 administration building since 2014. Additionally, the WA Aboriginal heritage act does not give traditional owners the right to veto or even object to the destruction of their important sites. “That left them exposed when this crisis occurred. Entsch said he hoped other mining companies would make similar commitments. Rio Tinto sacked chief executive Tom Albanese on Thursday and revealed a $14 billion writedown almost entirely on the value of his two most significant acquisitions, the … In a statement, Rio Tinto president Simon Thompson said in a statement that “what happened in Zhucan was wrong.” He referred to the destruction of two rock shelters in Western Australia containing artifacts indicating that humans had occupied them for tens of thousands of years. CANBERRA, Australia -- Rio Tinto chief executive Jean-Sebastien Jacques will leave the Anglo-Australian mining giant by March over the destruction of Australian Indigenous sacred sites to access iron ore, the company said on Friday. Rio Tinto CEO and two top execs stand down over Juukan Gorge debacle. “It is very much a part of the complex of problems that led to the destruction of the caves that the agreements are completely confidential and also include gag clauses. "Rio Tinto's purpose is to produce the materials essential to human progress and I remain deeply committed to this after the difficult times we have faced during 2020. Langton said the PKKP and other traditional owners in the Pilbara must be given the power to decide how they want their cultural materials stored and reparations should also be made in the form they demand. Rio Tinto's new CEO pledges to 'restore trust' after destruction of sacred Indigenous site By Michelle Toh , CNN Business Updated 5:08 AM ET, Thu December 17, 2020 “It is hard to argue that we have not been misled by Rio Tinto’s evidence to the inquiry when you look at what was said together with the documents the company has provided on notice,” Entsch told Guardian Australia. Former Rio Tinto executive Alan Davies' services are still in strong demand despite being sacked by his former employer last year, with the Brisbane-born … The company destroyed the caves against the wishes of the of … Mining giant Rio Tinto made headlines last week as it faces allegations of poisoning rivers in Papua New Guinea. This isn’t a positive thing for Western Australia. “The loss of those executives I suspect was inevitable. Lowe welcomed the decision to replace the three executives. ABC NEWS (Australia) ... Kirk Cousins sacked for second time. Rio … NFL Highlights History. Following the impairment charge, which included an additional $11 billion in asset write-downs, Chief Executive Officer of Rio Tinto, Tom Albanese stepped down from his post and left the company. Trump’s Parting Gift to Rio Tinto Has a Sting in the Tail The miner finally got approval to pursue a copper project on Native American land. Rio Tinto destroyed the caves, in the Pilbara Desert in Western Australia, with government approval but against the objections of two peoples with deep … Rio Tinto CEO steps down over destruction of 46,000-year-old Aboriginal caves. Rio Tinto sacked chief executive Tom Albanese on Thursday and revealed a $14 billion writedown in connection with his two most significant acquisitions, the Alcan aluminium group and Mozambican coal. That warning was echoed this week by ratings agency S&P which said investors would be looking for more than just technical compliance with the law. They are supported by the mining industry. Shareholders, in the wake of Juukan Gorge, know that business as usual is absolutely unacceptable,” said the ACCR’s Brynn O’Brien. At the same time as announcing the executive exits, it gave one of its non-executive directors special responsibility for oversight of its affairs in the country. CEO Jean-Sébastien Jacques, iron ore boss Chris Salisbury, and corporate affairs head Simone Niven will have to step down. Earlier this week, the parliamentary inquiry said Rio had misled its members. Entsch said Rio’s appearance before the inquiry raised more questions than it answered. They met with Jacques this week and are negotiating a permanent moratorium around mining at the site – and say they’ll continue to push for sector-wide changes. Traditional owners are not anti-economic development. On Thursday, the mining giant named Chief … This news comes less than a month after Rio Tinto CEO Jean-Sébastien Jacques resigned in response to pressure from investors over the company’s avoidable destruction of a 46,000-year-old sacred Indigenous site in Australia. “I am also acutely aware of the need to restore trust with Traditional Owners and our other stakeholders, which I view as a key priority for the company,” he added. Rio Tinto CEO and other top executives to step down after Australia cave blast review. Rio Tinto's chief executive Jean-Sebastien Jacques has been in charge of the company since 2016. Rio Tinto’s share price fell almost 1% in Sydney on Friday. Rio Tinto faces tough task to rebuild reputation Fallout from scandal over destruction of historic site risks spreading despite departure of CEO and... FT.com - Published on September 12, 2020 Rio Tinto CEO goes in Hong Kong (CNN Business)Rio Tinto (RIO) has found a new chief after a crisis this year led to the ouster of its top executive. Rio Tinto has been contacted for comment regarding Entsch’s allegations. The Puutu Kunti Kurrama and Pinikura (PKKP) people are the native title holders for Juukan Gorge, where the ancient rock shelters were destroyed in May. How about their utter incompetence in dealing with our cultural heritage?”. A subsequent release of hundreds of pages of documents in response to the inquiry’s questions revealed that Rio’s senior management hired lawyers to prepare for a potential injunction against the destruction of ancient rock shelters in Juukan Gorge, three days before they were destroyed. Rio Tinto has sacked three senior executives, including the global CEO, as penance for destroying a 46,000-year-old archaeological and sacred site in Western Australia’s Pilbara, but shareholder and Indigenous groups insist the move must signal the start of a major overhaul of the way all mining companies operate in the region. Rio Tinto executives sacked over destruction of historic site Australian indigenous groups have welcomed the resignation of Rio Tinto's CEO and two top lieutenants over the mining giant's destruction of a 46,000-year-old Aboriginal site to expand an iron ore mine in Australia. Rio Tinto Group is an Anglo-Australian multinational and the world's second largest metals and mining corporation, behind BHP, producing iron ore, copper, diamonds, gold and uranium. “If this is the behaviour of a company thought to have sector-leading standards, what is the risk another Juukan Gorge-type incident will happen again, without sector-wide reforms? Rio itself was increasingly run from its global headquarters in London – a move some market observers say left executives increasingly out of touch with what was happening on the ground in the Pilbara, the source of the rich iron ore that drives the company’s profits. 2:06. The rock shelters' traditional owners had no comment to make on the Rio Tinto leadership changes, Puutu Kunti Kurrama and Pinikura Aboriginal Corp. said. Sacked Rio Tinto exec hits back over Guinea bribery scandal Save Simandou in Guinea is believed to be one of the biggest undeveloped high-grade iron ore deposits in the world But I suspect those shareholders haven’t finished in respect of what they want to see from the board. We need to make sure that there’s been no unconscionable conduct,” she said. “FMG has a dubious history of engagement with Pilbara native title holders, specifically the Yindjibarndi people. Rio Names New CEO as Scrutiny Over Australian Blasts Lingers. “The evidence received by the committee has made clear that the internal culture at Rio Tinto was a significant factor in the destruction of these sites,” inquiry chair, Queensland LNP MP Warren Entsch, said. “It is a profound statement to say that senior executives did not know when the company has been aware since the early 00s of the significance of the caves.”. Jamie Lowe, chief executive of the National Native Title Council, which represents Australia's traditional owners of the land, said he had called on Rio Tinto to take more action than cutting executive bonuses. Rio Tinto’s Chief Executive and two other high-ranking executives have stepped down amid the aftermath of the mining giant’s destruction of the Juukan Gorge caves. Changes to the Environmental Protection, Biodiversity and Conservation (EPBC) Act will allow state governments to make the decision for nationally-listed cultural heritage places such as the Fitzroy River. On Thursday, the mining giant named Chief Financial Officer Jakob Stausholm as CEO. The ACCR has also sought similar assurances from BHP. Published Thu, Sep 10 2020 8:40 PM EDT Updated Fri, Sep 11 2020 7:54 AM EDT. Rio Tinto’s share price fell almost 1% in Sydney on Friday. Bengaluru — Rio Tinto will cut the short-term bonuses of its CEO, Jean-Sébastien Jacques, and two other senior executives after a review of … “In engagement with us, FMG has been clear that it is happy for business to continue as usual. “New leadership, new structures and new operating principles within the company are essential to preventing such catastrophes in the future.”. New Rio Tinto boss Jakob Stausholm faces the first major test of his tenure as Rio chief executive, with the government of Mongolia renewing threats to … The National Native Title Council said changes must be industry-wide. Our focus continues to rest heavily on preserving Aboriginal heritage and advocating for wide-ranging changes to ensure a tragedy like this never happens again," the corporation said in a statement. Mike Henry, BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) chief executive officer, has been at the job only since January 2020. After becoming CEO in 2016, Jacques cut the size of Rio’s Melbourne office, which is the company’s headquarters in Australia. 24/7 coverage of breaking news and live events. This news comes less than a month after Rio Tinto CEO Jean-Sébastien Jacques resigned in response to pressure from investors over the company’s avoidable destruction of a 46,000-year-old sacred Indigenous site in Australia. Fallout from scandal over destruction of historic site risks spreading despite departure of CEO and two others ... to stay at the helm of Rio Tinto. Did Rio Tinto’s […] Rio Tinto announced last month that Jacques would lose $3.5 million in bonuses and Salisbury and Niven around $700,000 each over the destruction in May of two rock shelters in Juukan George in Western Australia state that had been inhabited for 46,000 years. Rio Tinto's chief executive Jean-Sebastien Jacques has been in charge of the company since 2016. As the dust settles on Friday’s announcement, questions remain about the safety of 7,000 artefacts salvaged from the Juukan Gorge site. Australia’s biggest superannuation funds also demand the miner guarantee the protection of culturally important sites, Lorena Allam, In a statement, Rio Tinto president Simon Thompson said in a statement that “what happened in Zhucan was wrong.” He referred to the destruction of two rock shelters in Western Australia containing artifacts indicating that humans had occupied them for tens of thousands of years. Capitol rioter allegedly tweeted he wanted to 'assassinate' AOC, President Joe Biden's inaugural parade to the Oval Office, FBI investigating explosion, graffiti at church known for anti-LGBT views, MyPillow Guy among the Trump acolytes picking up the torch, Biden’s agenda clashes with looming impeachment trial, Rio Tinto chief executive Jean-Sebastien Jacques attends an annual general meeting in Perth, May 9, 2019. I’m keen now for the board and the company to move on, learn the lessons that it needs to learn and become again the leader in those partnerships between Aboriginal and non-Aboriginal people,” he said. Rio Tinto CEO Tom Albanese has stepped-down as head of the world's second-largest mining group after a multi-billion writedown to the value of … This will test whether it has learned from past mistakes. “There needs to be a consistent theme of them showing that they are conscious of Aboriginal cultural heritage and its protection,” Lowe said of mining companies. “We need to see them commit to employing experts in their company, not spin doctors and external relations people,” she said. When the shareholders get involved, you often get a reaction from the board. R io Tinto has sacked three senior executives, including the global CEO, as penance for destroying a 46,000-year-old archaeological and sacred site in … Comments as recently as last year, coming from the chairman saying ‘That is not a community I’m going to empower with tens of millions of your cash’, demonstrate the company and board have a long way to go in understanding and valuing the intricacies of cultural heritage and the agency of traditional owners.”, It’s like blowing up the tomb of the unknown soldier and forgetting about the occupant. Rio Tinto chief sacked By Eyewitness News Rio Tinto chief executive Tom Albanese will be replaced after his disastrous 2007 acquisition. They just want to be able to protect their most significant cultural heritage sites,” council CEO Jamie Lowe said. Jacques will leave the Anglo-Australian mining giant by March, 2021, over the destruction of the sacred sites, the company said on Friday, Sept. 11, 2020. Rio Tinto (ASX, LON, NYSE: RIO… NFL Highlights History. Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to … One of Rio’s biggest global investors, Aberdeen Standard International, said the company needed to work on rebuilding trust with its stakeholders. The Western Australian government has promised to update Indigenous heritage laws that allowed Rio Tinto to legally destroy the sacred sites. “We cannot and will not allow this type of devastation to occur ever again,” the PKKP Aboriginal council said. By mutual agreement, Jacques will step down once a replacement has been appointed or on March 31, whichever happens sooner, the statement said. How about the main problem? “The nature of these agreements and how they are negotiated represents a systemic risk for investors that will not be mitigated by executive changes,” CEO Debby Blakey said. By the time Rio Tinto Group’s chairman, Simon Thompson, and non-executive directors talked on a late-night conference call Thursday, they’d spent a chastening two weeks in … What we need to do is stop the destruction of sites.”, Available for everyone, funded by readers, Greenpeace report warns against granting licences to ‘deeply destructive’ industry with opaque oversight, and calls for global ocean treaty, Planning permission granted to Cumbria project that will extract 2.7m tonnes of coal per year, The Australian Mining and Exploration Council tells Juukan Gorge inquiry changes to strengthen laws would be an ‘over-reach’, The government introduced legislation in August to set up ‘one-stop shops’ at state level, before Samuel review of national laws was complete. On Thursday, BHP announced it was setting up a heritage advisory council with Banjima native title holders to inform the design of its $4.5bn South Flank iron ore mining operation. “We will continue to work with Rio Tinto in the aftermath of the Juukan Gorge disaster. Mining giant Rio Tinto made headlines last week as it faces allegations of poisoning rivers in Papua New Guinea. The company recognised its loss of engagement with Australia on Friday. © 2021 Guardian News & Media Limited or its affiliated companies. Of course, Rio was aware of … Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to … “We expect a level of transparency that will afford investors the confidence that cultural heritage is being managed appropriately so that stakeholders can be confident that similar oversights do not recur.”. Rio Tinto fires two of its top executives over $10.5 million in payments to a consultant who helped the company win rights to develop the world's largest … Rio Tinto announced the resignation of its CEO and two top lieutenants Friday over the mining giant's destruction of a 46,000-year-old Aboriginal site to expand an iron ore mine in Australia. Last modified on Sat 12 Sep 2020 21.13 EDT. Rio Tinto (NYSE: RIO) expenses have trended steadily lower from around $29.0 billion in 2016 to about $26.6 billion in 2018. Former Rio Tinto executive Alan Davies' services are still in strong demand despite being sacked by his former employer last year, with the Brisbane-born … Its long-term boss Ivan Glasenberg rio tinto ceo sacked within the company are essential to preventing such catastrophes the... Down over Juukan Gorge was until after it was destroyed suspect those shareholders ’. Papua New Guinea for Western Australia s share price fell almost 1 % in Sydney on Friday executives step... 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