September 30, 2023

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.

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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.

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Paying the fine: Environmental fines totaling almost £100,000 in the last financial year did not interfere with the salary of chief Jakob Stausholm.

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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.

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