When the shareholders get involved, you often get a reaction from the board. © 2021 Guardian News & Media Limited or its affiliated companies. 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. Traditional owners are not anti-economic development. This contradicted Jacques’ earlier public statements that senior executives did not know just how important Juukan Gorge was until after it was destroyed. As the dust settles on Friday’s announcement, questions remain about the safety of 7,000 artefacts salvaged from the Juukan Gorge site. 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. 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. 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 Turn on desktop notifications for breaking stories about interest? Rio Tinto’s share price fell almost 1% in Sydney on Friday. “It’s very important that the most significant material taken from the destroyed sites is always available to the traditional owners, in a centre that’s dedicated to them,” Langton said. “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. A further 46 sites identified as sacred by the Banjima did not meet the threshold for the WA Aboriginal cultural materials committee to register them as a site, meaning they could be destroyed or damaged without permission. 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. Calla Wahlquist, Fri 11 Sep 2020 16.00 EDT Rio Tinto destroyed the caves, in the Pilbara Desert in Western Australia, with government approval but against the objections of two peoples with deep … “We cannot and will not allow this type of devastation to occur ever again,” the statement added. 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. But Wyatt won’t halt current mining company applications to destroy heritage under the WA act saying a moratorium was “a clumsy approach”. “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. Rio … 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. “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? “FMG has a dubious history of engagement with Pilbara native title holders, specifically the Yindjibarndi people. The Western Australian government has promised to update Indigenous heritage laws that allowed Rio Tinto to legally destroy the sacred sites. 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 taps insider Stausholm for CEO in surprise pick after cave destruction By Sonali Paul and Rashmi Ashok 17/12/2020 Third Covid vaccine set for … Mining giant Rio Tinto made headlines last week as it faces allegations of poisoning rivers in Papua New Guinea. Rio Tinto’s share price fell almost 1% in Sydney on Friday. “A more sophisticated approach is one that we have been adopting, and that is requiring genuine engagement between the proponents,” Wyatt said. 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. 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 … Rio Tinto Group CEO Jean-Sébastien Jacques, Rio Tinto Chief Executive Iron Ore, Chris Salisbury and Corporate Relations Group Executive, Simone Niven are all stepping down in response to shareholder pressures for … Rio Tinto CEO steps down over destruction of 46,000-year-old Aboriginal caves. 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. 24/7 coverage of breaking news and live events. "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. “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,” he said in a statement. 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. 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. Did Rio Tinto’s … Rio Tinto CEO and other top executives to step down after Australia cave blast review. Rio Tinto releases fourth quarter production results 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. “In engagement with us, FMG has been clear that it is happy for business to continue as usual. Bengaluru — Rio Tinto will cut the short-term bonuses of its CEO, Jean-Sébastien Jacques, and two other senior executives after a review of … Rio Tinto (NYSE: RIO) expenses have trended steadily lower from around $29.0 billion in 2016 to about $26.6 billion in 2018. 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. The Australasian Centre for Corporate Responsibility (ACCR) wants FMG to halt mining activities that would disturb, destroy or desecrate cultural heritage sites until relevant laws are strengthened. 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 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. (Reuters: Toby Melville)Organisational weakness. “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. Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to … In no way can this be called a satisfactory partnership or legal arrangement.”. 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. 2:06. “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. 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 … This will test whether it has learned from past mistakes. The company recognised its loss of engagement with Australia on Friday. The head of global mining giant Rio Tinto and two other executives have resigned after an investor revolt over the destruction of the Juukan Gorge in Western Australia. 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 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 … Earlier this week, the parliamentary inquiry said Rio had misled its members. Australia’s biggest superannuation funds also demand the miner guarantee the protection of culturally important sites, Lorena Allam, Rio Tinto (NYSE: RIO; LSE: RIO) CEO Jean-Sébastien Jacques will step down by the end of March next year over a mounting backlash against the company’s decision to destroy ancient Aboriginal heritage sites in Western Australia. Rio Tinto concluded in an internal review last month that there was “no single root cause or error that directly resulted in the destruction of the rock shelters.”, But internal documents revealed last week that Rio Tinto had engaged a law firm in case the traditional owners, the Puutu Kunti Kurrama and Pinikura people, applied for a court injunction to save the rock shelters. ABC NEWS (Australia) ... Kirk Cousins sacked for second time. Mining giant Rio Tinto made headlines last week as it faces allegations of poisoning rivers in Papua New Guinea. Guardian Australia revealed in June that the Western Australian government had granted BHP permission to destroy 40 Aboriginal heritage sites belonging to the Banjima people, in order to progress its South Flank development. Langton told ABC TV on Friday: “We’re [not] going to be satisfied with three scalps. One of Australia’s biggest superannuation funds says the departure of CEO Jean-Sébastien Jacques, head of iron ore Chris Salisbury, and corporate affairs chief Simone Niven won’t be enough to restore investor confidence. 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. 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. THE executive sacked by Australian mining giant Rio Tinto over a controversial $13.8 million payment to a consultant to an African president is back in the mining game. “Rio can now work with traditional owners to guarantee that its processes are appropriate for the protection of culturally important sites and that it has the right internal accountabilities,” chief executive Ian Silk said. The University of Melbourne academic, Prof Marcia Langton, who has advised several companies on Indigenous engagement, says transparency is essential. 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. “We will continue to take an active interest in how these changes are implemented.”. 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 … 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. They are supported by the mining industry. 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 … “The board has yet to adequately demonstrate to investors that they have appropriate governance and oversight arrangements in place to manage this risk.”. “We cannot and will not allow this type of devastation to occur ever again,” the PKKP Aboriginal council said. “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. Hesta’s concerns flow from revelations that many of the agreements between traditional owners and mining companies contain “gag clauses” preventing them from voicing concerns about heritage destruction. “The loss of those executives I suspect was inevitable. "Rio Tinto must prioritise working with traditional owners, the Puutu Kunti Kurrama and Pinikura people, to rebuild their relationship. Rio Tinto has promoted finance boss Jakob Stausholm to chief executive, replacing Jean-Sebastien Jacques who was forced to quit amid outrage over … 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. “Our expectation is that oversight and accountability for cultural heritage management is elevated to the highest levels within Rio Tinto,” Aberdeen’s Camille Simeon said. By mutual agreement, Jacques will step down once a replacement has been appointed or on March 31, whichever happens sooner, the statement said. “We will continue to work with Rio Tinto in the aftermath of the Juukan Gorge disaster. A latex peel taken from the wall of the oldest rock shelter has been on display in the Brockman 4 administration building since 2014. Rio Tinto's chief executive Jean-Sebastien Jacques has been in charge of the company since 2016. NFL Highlights History. On Thursday, the mining giant named Chief Financial Officer Jakob Stausholm as CEO. Western Australian Greens senator Rachel Siewert said Rio’s decision should also put pressure on the federal and state governments to strengthen heritage protection laws. “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. Lowe welcomed the decision to replace the three executives. Of course, Rio was aware of … How about their utter incompetence in dealing with our cultural heritage?”. 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. Shareholders, in the wake of Juukan Gorge, know that business as usual is absolutely unacceptable,” said the ACCR’s Brynn O’Brien. (Reuters: Toby Melville)Organisational weakness Of course, Rio … "Rio Tinto now has the opportunity to address the necessary remediation, cultural heritage and risk processes with fresh eyes," ACSI chief executive Louise Davidson said in a statement. “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.”. 2016 - Eli Manning sacked by Corey Lemonier. Mining companies usually advise a vote against such shareholder resolutions, but BHP has left the door open to supporting it. Rio Tinto CEO Jean-Sebastien Jacques is under pressure to resign. With shareholders publicly urging Rio's board to dismiss or demote chief executive Jean-Sebastien Jacques and two of his senior executives at crisis meetings this … The agreements used by the three major mining companies – Rio Tinto, BHP and Fortescue Metals Group – are largely the same. Rio Tinto releases fourth quarter production results. The company destroyed the caves against the wishes of the of … 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 … So there may be more changes.”. 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. 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 … He bought a house in Sydney. (Will Russell/AAP Image via AP). The political fallout is ongoing. This isn’t a positive thing for Western Australia. “The moratorium, proposed by people unfamiliar with the West Australian mining industry, is not supported by Fortescue as it would disempower local Aboriginal people in the Pilbara and limit the positive contribution the mining industry is making to the state and national economies, at a time when it is needed most,” the chief executive, Elizabeth Gaines, said. “New leadership, new structures and new operating principles within the company are essential to preventing such catastrophes in the future.”. Mike Henry, BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) chief executive officer, has been at the job only since January 2020. The rock shelters' traditional owners had no comment to make on the Rio Tinto leadership changes, Puutu Kunti Kurrama and Pinikura Aboriginal Corp. said. Rio Tinto chief sacked By Eyewitness News Rio Tinto chief executive Tom Albanese will be replaced after his disastrous 2007 acquisition. The WA treasurer and Aboriginal affairs minister, Ben Wyatt, also said Rio had lost connection with the Pilbara, where it generates 75% of its revenue. 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. Did Rio Tinto’s […] Hesta, which manages $52bn on behalf of more than 870,000 Australians, wants an independent review of all current agreements between the company and traditional owners, and says it is talking to major global investors to join them in lobbying the Rio Tinto board. Investors were expecting the mining giant would pick an external candidate. We can repatriate anything and everything salvaged from PKKP country at any time should a request be made by the PKKP.”. The executive sacked by Rio Tinto amid a corruption investigation plans to take legal action against the mining group.Alan Davies, chief executive of its energy and minerals division, was sacked … “The reason that a request must be made is because the facility is located on an active mine site. Executives Chris Salisbury and Simone Niven will leave the company on Dec. 31. 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 … Rio admitted that a huge number are still sitting in a non-airconditioned shipping container on a mining site in the Pilbara. “We need to see those agreements. Rio Tinto CEO and two top execs stand down over Juukan Gorge debacle. For its part, FMG said it does not have heritage “gag order” clauses in its agreements with traditional owners and does not support a moratorium on mining activity. Rio Tinto named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to … Australia’s biggest superannuation fund, the $175bn AustralianSuper, also sees the executive departures as merely a starting point. Ben Butler and Rio Tinto has been contacted for comment regarding Entsch’s allegations. The ACCR has also sought similar assurances from BHP. Entsch said he hoped other mining companies would make similar commitments. They just want to be able to protect their most significant cultural heritage sites,” council CEO Jamie Lowe said. After becoming CEO in 2016, Jacques cut the size of Rio’s Melbourne office, which is the company’s headquarters in Australia. WA has released new draft laws which carry a $10m fine for unauthorised damage to a site, but rely on the same agreement-making processes already used by mining company’s negotiating with native title holders. 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 Reprieve for sacked Qantas staff as Woolies, Telstra and Rio Tinto step forward to employ 20,000 laid off workers 20,000 Qantas employees have lost … Two years later they wrote-down the value of the assets by $3 billion. Jean-Sebastien Jacques is leaving Rio Tinto early next year after more than four years as CEO Two other senior executives, the heads of iron ore and corporate affairs, are also leaving The departures are in response to Rio Tinto's destruction of ancient Aboriginal cultural heritage sites in May this year ABC NEWS (Australia) 2:16. 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. « 1 » … “That left them exposed when this crisis occurred. 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. On Thursday, the mining giant named Chief … 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. A top Rio Tinto executive sacked over a suspect multimillion-dollar payment connected to the mining giant's African operations says the company had … “But it is such a tragedy that we have to talk about the situation in these terms. How about the main problem? 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. All rights reserved. Bloomberg The futures of Mr Jacques, iron ore boss Chris Salisbury and … 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. “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.”. 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. NFL Highlights History. Top commodities trader and miner Glencore (LSE: GLEN) is waving its long-term boss Ivan Glasenberg good-bye. Rio Tinto (ASX, LON, NYSE: RIO… Langton said Rio must now build a workforce with greater local knowledge, better able to engage with traditional owners to “establish the kinds of cultural heritage protection mechanisms that were recommended to them”. The National Native Title Council said changes must be industry-wide. 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 … “Mining companies are on notice they do not have the social license to destroy First Nations peoples’ heritage and culture,” Siewert said. “We need to see them commit to employing experts in their company, not spin doctors and external relations people,” she said. 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 CEO stepped down following Juukan Gorge. 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. 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. Deep-sea ‘gold rush’: secretive plans to carve up the seabed decried, First new deep coalmine in UK for 30 years gets go ahead, Mining bodies and law council at odds over laws protecting Indigenous heritage, Letter reveals Rio Tinto urged transfer of powers to WA ahead of environment law review, Rio Tinto expected to destroy 124 more Aboriginal sites, inquiry told, Lithium find in Cornwall spurs hopes of regeneration, Rio Tinto CEO and senior executives resign from company after Juukan Gorge debacle, BHP announces plan to slash emissions by 30% over next decade but stops short of quitting coal and oil, hired lawyers to prepare for a potential injunction, released new draft laws which carry a $10m fine for unauthorised damage to a site, Changes to the Environmental Protection, Biodiversity and Conservation (EPBC) Act, revealed in June that the Western Australian government had granted BHP permission to destroy 40 Aboriginal heritage. 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