Rio Tinto boss handed 70% pay rise

Last year, Rio Tinto increased the salary of its chief executive by 70%, despite the fact that the company received a bunch of environmental fines.

– Advertisement –

Until 2022, the mining giant has paid more fines than in the previous three years combined. Offenses included killing a gazelle, violating emissions, and polluting the soil.

Environmental fines totaling nearly £100,000 in the last financial year have not thwarted chief Jacob Stausholm’s salary, which has skyrocketed from £2.8m to £4.8m.

– Advertisement –

Rio’s business practices have been controversial in recent years.

Stausholm was hired as CEO in January 2021 to replace Jean-Sebastien Jacques, who left the company after outrage at his decision to blow up sacred Aboriginal rock shelters.

Last week, Rio Tinto more than halved its dividend to £6.7bn after a 41% drop in earnings.

Rio Tinto was contacted for comment.