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    RIO   AU000000RIO1

RIO TINTO GROUP

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Rio Tinto appoints Aboriginal Australian former minister to board

06/03/2021 | 09:32pm EDT
The Rio Tinto mining company's logo is photographed at their annual general meeting in Sydney

MELBOURNE (Reuters) - Rio Tinto Ltd has made its first Aboriginal board appointment, hiring former Western Australian state treasurer Ben Wyatt as it strives to rebuild its reputation following last year's destruction of the Juukan Gorge rockshelters.

Wyatt, 47, retired from state parliament in March after a 15-year career that included time as Aboriginal affairs minister, where he helped reshape legislation to protect Aboriginal cultural heritage.

He will join Rio as a non-executive director, Rio said in a statement.

Rio Tinto destroyed 46,000-year-old rock shelters at Juukan Gorge in Western Australia in May 2020 against the wishes of the traditional owners, causing a public outcry and costing Rio's boss, chair and two senior executives their jobs.

Wyatt graduated from the Royal Military College Duntroon, has a masters from the London School of Economics, and family links to the remote Pilbara region of northwestern Australia, where Rio mines its iron ore, through his Yamatji heritage.

He said he was looking forward to building on the momentum for change at Rio Tinto that had been generated by its new leadership team.

"I was deeply saddened and disappointed by the events at Juukan Gorge but I am convinced that Rio Tinto is committed to changing its approach to cultural heritage issues and restoring its reputation, particularly in Australia and Western Australia," he said in a statement.

Rio Tinto Chairman Simon Thompson said in a statement Wyatt's knowledge of public policy, finance, international trade and Indigenous affairs would "significantly add to the depth of knowledge on the Board at a time when we are seeking to strengthen relationships with key stakeholders in Australia and around the world".

Western Australian heritage protection legislation is still being redrafted and is expected to be presented to parliament later this year.

Wyatt also this week joined the board of energy producer Woodside Petroleum.

(Reporting by Melanie Burton; Editing by Stephen Coates)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
3I GROUP PLC 2.11% 1307 Delayed Quote.10.54%
GOLD 0.01% 1811.3 Delayed Quote.-4.50%
RIO TINTO GROUP 1.52% 134.4 End-of-day quote.18.07%
S&P GSCI GOLD INDEX -0.19% 1056.416 Delayed Quote.-4.27%
SILVER -0.70% 25.36 Delayed Quote.-3.60%
WOODSIDE PETROLEUM LTD 1.01% 22.04 End-of-day quote.-3.08%
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Financials (USD)
Sales 2021 67 061 M - -
Net income 2021 24 396 M - -
Net cash 2021 4 292 M - -
P/E ratio 2021 4,24x
Yield 2021 18,5%
Capitalization 105 B 146 B -
EV / Sales 2021 1,50x
EV / Sales 2022 1,83x
Nbr of Employees 47 500
Free-Float 65,3%
Chart RIO TINTO GROUP
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Rio Tinto Group Technical Analysis Chart | RIO | AU000000RIO1 | MarketScreener
Technical analysis trends RIO TINTO GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Last Close Price 62,92 $
Average target price 90,16 $
Spread / Average Target 43,3%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Simon Robert Thompson Chairman
Arnaud Soirat Chief Operating Officer
Megan Clark Independent Non-Executive Director
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