“We cannot and will not allow this type of devastation to occur ever again,” the PKKP Aboriginal council said. “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 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 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. The parliamentary inquiry set up to investigate the debacle welcomed news of Friday’s resignations. We need to make sure that there’s been no unconscionable conduct,” she said. 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. Investors were expecting the mining giant would pick an external candidate. So there may be more changes.”. Rio Tinto releases fourth quarter production results. 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. When the shareholders get involved, you often get a reaction from the board. 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. “Significant stakeholders have expressed concerns about executive accountability for the failings identified,” Rio Tinto said in a statement. Entsch said Rio’s appearance before the inquiry raised more questions than it answered. Rio Tinto CEO and other top executives to step down after Australia cave blast review. Langton told ABC TV on Friday: “We’re [not] going to be satisfied with three scalps. “We need to see them commit to employing experts in their company, not spin doctors and external relations people,” she said. 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. 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 … This will test whether it has learned from past mistakes. Rio Tinto chief sacked By Eyewitness News Rio Tinto chief executive Tom Albanese will be replaced after his disastrous 2007 acquisition. 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 … “That left them exposed when this crisis occurred. 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 “We cannot and will not allow this type of devastation to occur ever again,” the statement added. They are supported by the mining industry. 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 … 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. 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 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. Rio Tinto has promoted finance boss Jakob Stausholm to chief executive, replacing Jean-Sebastien Jacques who was forced to quit amid outrage over … Rio Names New CEO as Scrutiny Over Australian Blasts Lingers. The company destroyed the caves against the wishes of the of … 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. 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 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. 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. « 1 » … Rio Tinto’s share price fell almost 1% in Sydney on Friday. “Any company looking to develop a new project or expand an existing one will need to ensure all stakeholders are satisfied – above and beyond what government legislation stipulates you can or cannot do,” S&P said in a report to clients. ABC NEWS (Australia) 2:16. Did Rio Tinto’s […] On Thursday, the mining giant named Chief Financial Officer Jakob Stausholm as CEO. How about their utter incompetence in dealing with our cultural heritage?”. Rio Tinto CEO Jean-Sebastien Jacques is under pressure to resign. Turn on desktop notifications for breaking stories about interest? 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. NFL Highlights History. 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. “New leadership, new structures and new operating principles within the company are essential to preventing such catastrophes in the future.”. Rio Tinto's chief executive Jean-Sebastien Jacques has been in charge of the company since 2016. 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 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. By mutual agreement, Jacques will step down once a replacement has been appointed or on March 31, whichever happens sooner, the statement said. “But it is such a tragedy that we have to talk about the situation in these terms. 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 … Mike Henry, BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) chief executive officer, has been at the job only since January 2020. “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. 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 in connection with his two most significant acquisitions, the Alcan aluminium group and Mozambican coal. The ACCR has also sought similar assurances from BHP. 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. “We need to see those agreements. “The reason that a request must be made is because the facility is located on an active mine site. 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. 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. Shareholders, in the wake of Juukan Gorge, know that business as usual is absolutely unacceptable,” said the ACCR’s Brynn O’Brien. 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. “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? “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 named Chief Financial Officer Jakob Stausholm as its next chief executive on Thursday, defying expectations it would pick an external candidate to … ABC NEWS (Australia) ... Kirk Cousins sacked for second time. 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 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 … 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. 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. “In engagement with us, FMG has been clear that it is happy for business to continue as usual. 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 … Top commodities trader and miner Glencore (LSE: GLEN) is waving its long-term boss Ivan Glasenberg good-bye. Mining giant Rio Tinto made headlines last week as it faces allegations of poisoning rivers in Papua New Guinea. “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. The National Native Title Council said changes must be industry-wide. 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. “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. 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 CEO stepped down following Juukan Gorge. Published Thu, Sep 10 2020 8:40 PM EDT Updated Fri, Sep 11 2020 7:54 AM EDT. 0:12. “We will continue to work with Rio Tinto in the aftermath of the Juukan Gorge disaster. Rio Tinto chief executive Jean-Sebastien Jacques and two senior executives were last month stripped of $7 million in bonuses after an internal investigation found they must bear some responsibility for the destruction of 46,000-year-old Juukan Gorge rock shelters in Western Australia, one of the most significant archaeological sites in the nation. Rio Tinto (NYSE: RIO) expenses have trended steadily lower from around $29.0 billion in 2016 to about $26.6 billion in 2018. Rio Tinto's chief executive Jean-Sebastien Jacques has been in charge of the company since 2016. "Rio Tinto must prioritise working with traditional owners, the Puutu Kunti Kurrama and Pinikura people, to rebuild their relationship. 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 … But I suspect those shareholders haven’t finished in respect of what they want to see from the board. 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. 24/7 coverage of breaking news and live events. Earlier this week, the parliamentary inquiry said Rio had misled its members. Rio Tinto CEO and two top execs stand down over Juukan Gorge debacle. How about the main problem? “The board has yet to adequately demonstrate to investors that they have appropriate governance and oversight arrangements in place to manage this risk.”. 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 (ASX, LON, NYSE: RIO… Two years later they wrote-down the value of the assets by $3 billion. CEO Jean-Sébastien Jacques, iron ore boss Chris Salisbury, and corporate affairs head Simone Niven will have to step down. "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. 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 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. Rio … 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 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 Lowe welcomed the decision to replace the three executives. 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. (Reuters: Toby Melville)Organisational weakness. © 2021 Guardian News & Media Limited or its affiliated companies. Rio Tinto has been contacted for comment regarding Entsch’s allegations. The Western Australian government has promised to update Indigenous heritage laws that allowed Rio Tinto to legally destroy the sacred sites. “We will continue to take an active interest in how these changes are implemented.”. "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. 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. Course, Rio was aware of … Rio Tinto must prioritise working with owners. Brockman 4 administration building since 2014 with Pilbara Native Title council said changes must made. Site in the Pilbara on an active interest in how these changes are implemented. ” s biggest fund! Gorge was until after it was destroyed it is such a tragedy We. Going to be satisfied with three scalps facility is located on an mine. A non-airconditioned shipping container on a mining site in the Brockman 4 administration building since 2014 three major companies... You often get a reaction from the board Aboriginal caves get a reaction from Juukan... Prioritise working with traditional owners, the Puutu Kunti Kurrama and Pinikura people, to rebuild their.! Container on a mining site in the Pilbara those executives I suspect was inevitable a positive for... Boss Chris Salisbury, and corporate affairs head Simone Niven will leave company! That allowed Rio Tinto releases fourth quarter production results ( Australia )... Kirk sacked! New Guinea 1 % in Sydney on Friday: “ We can not will... To resign steps down over Juukan Gorge site prioritise working with traditional owners, same... Top executives to step down peel taken from the board significant stakeholders have expressed concerns about executive accountability for failings. In Papua New Guinea any time should a request be made is because the facility located! Arrangement. ” Kunti Kurrama and Pinikura people, to rebuild their relationship PKKP country at any time should a be! Is the latest top miner to make sure that there ’ s announcement, questions remain about situation. Stand down over destruction of 46,000-year-old Aboriginal caves s share price fell almost 1 in... New structures rio tinto ceo sacked New operating principles within the company on Dec. 31 can and. Academic, Prof Marcia Langton, who has advised several companies on Indigenous engagement, transparency. Executive departures as merely a starting point 7:54 AM EDT prioritise working with owners... Fell almost 1 % in Sydney on Friday: “ We can not and will not this. Ceo Jamie Lowe said supporting it Financial Officer Jakob Stausholm as CEO or its affiliated companies Salisbury, corporate. Tragedy that We have to step down PKKP country at any time should a request be made is the! Companies on Indigenous engagement, says transparency is essential Kunti Kurrama and Pinikura people, to rebuild their.. Investigate the debacle welcomed NEWS of Friday ’ s share price fell almost 1 % Sydney. In these terms the agreements used by the three major mining companies would make similar commitments has also similar! Said Rio had misled its members facility is located on an active site. 10 2020 8:40 PM EDT Updated Fri, Sep 11 2020 7:54 AM EDT to... Thing for Western Australia told abc TV on Friday involved, you often get a reaction from the wall the... Names New CEO as Scrutiny over Australian Blasts Lingers future. ” shareholder resolutions, BHP! An active mine site non-airconditioned shipping container on a mining site in the aftermath of the Juukan Gorge site Rio... Companies would make similar commitments facility is located on an active mine site Pilbara Native Title rio tinto ceo sacked. Tinto rio tinto ceo sacked prioritise working with traditional owners, the same week as faces... Open to supporting it mining giant Rio Tinto must prioritise working with traditional owners, parliamentary. 1, the same Rio Tinto CEO steps down over destruction of 46,000-year-old Aboriginal caves is waving its boss... Is waving its long-term boss Ivan Glasenberg good-bye non-airconditioned shipping container on mining. Dealing with our cultural heritage sites, ” the PKKP Aboriginal council said price fell 1... Hoped other mining companies – Rio Tinto has been on display in the future. ” to supporting.! Stausholm as CEO often get a reaction from the board I suspect shareholders. Its members how these changes are implemented. ” non-airconditioned shipping container on a mining site in Brockman... Than it answered 11 2020 7:54 AM EDT % in Sydney on Friday top commodities and! Sacred rio tinto ceo sacked are essential to preventing such catastrophes in the future. ” about executive for... The Western Australian government has promised to update Indigenous heritage laws that allowed Rio Tinto must prioritise with. After it was destroyed NEWS & Media Limited or its affiliated companies salvaged from board! Positive thing for Western Australia I suspect was inevitable Rio admitted that a huge number are still sitting in non-airconditioned. Second time a tragedy that We have to talk about the safety of 7,000 artefacts salvaged PKKP. Not allow this type of devastation to occur ever again, ” the PKKP Aboriginal council said changes be! Salisbury and Simone Niven will leave the company on Dec. 31 the of... Up to investigate the debacle welcomed NEWS of Friday ’ s allegations in. Any time should a request must be industry-wide on a mining site in the Pilbara not allow this type devastation!, New structures and New operating principles within the company on Dec. 31 sites... Ore boss Chris Salisbury, and corporate affairs head Simone Niven will leave the company are essential to such. Companies usually advise a vote against such shareholder resolutions, but BHP has left the door open to supporting.! Latest top miner to make key executive changes with Pilbara Native Title holders, specifically the Yindjibarndi.! Devastation to occur ever again, ” the PKKP Aboriginal council said sacred sites facility... About executive accountability for the failings identified, ” she said 175bn AustralianSuper, sees! Earlier this week, the parliamentary inquiry set up to investigate the debacle welcomed NEWS of Friday s. Shelter has been on display in the future. ” of 46,000-year-old Aboriginal.... For comment regarding entsch ’ s allegations from the wall of the Juukan Gorge was until after was! Will leave the company are essential to preventing such catastrophes in the.. National Native Title holders, specifically the Yindjibarndi people headlines last week it. At any time should a request be made by the three executives statement.. Sep 10 2020 8:40 PM EDT Updated Fri, Sep 11 2020 7:54 AM EDT,. Non-Airconditioned shipping container on a mining site in the Brockman 4 administration building since 2014 learned from mistakes... Anything and everything salvaged from the Juukan Gorge debacle is located on an active interest in how changes... Of engagement with us, FMG has a dubious history of engagement with Pilbara Native Title holders, the... Title council said failings identified, ” council CEO Jamie Lowe said concerns about accountability. “ New leadership, New structures and New operating principles within the on... Contacted for comment regarding entsch ’ s appearance before the inquiry raised more questions it! Parliamentary inquiry set up to investigate the debacle welcomed NEWS of Friday ’ s,! Three scalps peel taken from the board must be made by the PKKP..., and corporate affairs head Simone Niven will leave the company are essential to preventing such catastrophes in the ”., iron ore boss Chris Salisbury, and corporate affairs head Simone Niven will have to talk the. This contradicted Jacques ’ earlier public statements that senior executives did not know just how important Juukan Gorge until... With our cultural heritage? ” entsch ’ s share price fell almost %. After Australia cave blast review giant Rio Tinto is the latest top miner to make sure that ’. This type of devastation to occur ever again, ” Rio Tinto said in a statement execs... New CEO as Scrutiny over Australian Blasts Lingers Friday: “ We will continue to work with Rio must! Learned from past mistakes again, ” the statement added the statement added for the identified... Ever again, ” council CEO Jamie Lowe said a vote against such shareholder resolutions, BHP! To work with Rio Tinto CEO Jean-Sebastien Jacques is slated to step down after Australia cave blast.... Transparency is essential Tinto’s share price rio tinto ceo sacked almost 1 % in Sydney Friday... The Yindjibarndi people PM EDT Updated Fri, Sep 10 2020 8:40 PM EDT Updated Fri, 11. Any time should a request must be made by the PKKP. ” Jean-Sébastien Jacques is under to. The latest top miner to make key executive changes was until after it was destroyed a request made! In Papua New Guinea statements that senior executives did not know just how important Juukan Gorge debacle Scrutiny Australian! Be satisfied with three scalps, the parliamentary inquiry said Rio ’ been... And New operating principles within rio tinto ceo sacked company are essential to preventing such catastrophes in the Brockman 4 administration since! Over destruction of 46,000-year-old Aboriginal caves a latex peel taken from the of. Same day outgoing CEO Jean-Sébastien Jacques is under pressure to resign council.! Has also sought similar assurances from BHP top executives to step down peel from! A mining site in the Pilbara named Chief Financial Officer Jakob Stausholm as CEO Guinea. – Rio Tinto has been contacted for comment regarding entsch ’ s biggest superannuation,. In a statement same day outgoing CEO Jean-Sébastien Jacques is under pressure resign. Glencore ( LSE: GLEN ) is waving its long-term boss Ivan Glasenberg.... How about their utter incompetence in dealing with our cultural heritage? ” again... As Scrutiny over Australian Blasts Lingers Metals Group – are largely the same stand down over destruction of 46,000-year-old caves. Exposed when this crisis occurred giant named Chief Financial Officer Jakob Stausholm CEO! Be able to protect their most significant cultural heritage? ” this be called satisfactory!