Rio Tinto (RIO)

Sector:

Mining

Index:

FTSE 100

5,809.00p
   
  • Change Today:
    -73.00p
  • 52 Week High: 6,658.00
  • 52 Week Low: 4,266.00
  • Currency: UK Pounds
  • Shares Issued: 1,247.76m
  • Volume: 5,002,925
  • Market Cap: £72,482m
  • RiskGrade: 142

Rio Tinto shareholders reject pay report over Aboriginal disaster

By Sean Farrell

Date: Thursday 06 May 2021

LONDON (ShareCast) - (Sharecast News) - Rio Tinto's shareholders have voted down the miner's pay report over bonuses awarded to former executives who were responsible for blowing up ancient Aboriginal caves.




More than 60% of shareholder votes opposed the pay report at the FTSE 100 company's annual general meeting. Shareholders were protesting against the decision to award share-based bonuses to former chief executive Jean-Sébastien Jacques, the departed head of its iron ore business and the ex-corporate relations chief.

All three former executives were forced to quit in 2020 after the company destroyed a 46,000-year-old Aboriginal site in May to expand an iron ore mine despite being told it was sacred ground. Chairman Simon Thompson will quit by the next AGM because of the disaster.

Almost a quarter of votes were cast against the re-election of Megan Clark to the board because she chaired Rio Tinto's sustainability committee when the Juukan Gorge site in Western Australia was destroyed.

Rio Tinto said the vote against the remuneration report counted as a "first strike" under Australian company law. If the pay report is voted down next year, shareholders will be able to replace the board.

The vote is not binding and Rio Tinto said it would talk to shareholders in light of the revolt. The company said it had explained its pay decisions to investors and proxy advisers and had tightened up its policy.

Rio Tinto said: "The board acknowledges that the executive pay outcomes in relation to the tragic events at Juukan Gorge are sensitive and contentious issues."

The company said Clark would stay on the board because almost 75% of votes supported her and she was doing an important job connecting with traditional owners of lands where it operates in Western Australia.





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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rio Tinto Market Data

Currency UK Pounds
Share Price 5,809.00p
Change Today -73.00p
% Change -1.24 %
52 Week High 6,658.00
52 Week Low 4,266.00
Volume 5,002,925
Shares Issued 1,247.76m
Market Cap £72,482m
RiskGrade 142

Rio Tinto Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.48% above the market average92.48% above the market average92.48% above the market average92.48% above the market average92.48% above the market average
25.62% above the sector average25.62% above the sector average25.62% above the sector average25.62% above the sector average25.62% above the sector average
Price Trend
3.12% above the market average3.12% above the market average3.12% above the market average3.12% above the market average3.12% above the market average
Sector averageSector averageSector averageSector averageSector average
Income
98.62% above the market average98.62% above the market average98.62% above the market average98.62% above the market average98.62% above the market average
76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average76.00% above the sector average
Growth
69.59% above the market average69.59% above the market average69.59% above the market average69.59% above the market average69.59% above the market average
35.48% below the sector average35.48% below the sector average35.48% below the sector average35.48% below the sector average35.48% below the sector average

What The Brokers Say

Strong Buy 9
Buy 0
Neutral 10
Sell 3
Strong Sell 2
Total 24
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rio Tinto Dividends

  Latest Previous
  Final Special
Ex-Div 04-Mar-21 04-Mar-21
Paid 15-Apr-21 15-Apr-21
Amount 309.00¢ 93.00¢

Trades for 18-Jun-2021

Time Volume / Share Price
16:35 2,517,662 @ 5,809.00p
16:29 34 @ 5,830.95p
16:29 26 @ 5,835.00p
16:29 62 @ 5,835.00p
16:29 100 @ 5,836.00p

Rio Tinto Key Personnel

Chair Simon R Thompson
CEO Jakob Stausholm

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