SYDNEY— Rio Tinto PLC said its chief executive would step down as it battles to contain the fallout from the destruction of two ancient rock shelters in Australia’s minerals-rich Pilbara region that were culturally significant to a local indigenous group. Rio Tinto, the world’s second-largest listed mining company by market value, said a search for a new CEO was under way and Mr. Jacques would leave sooner than March 31 if a successor is found. Two other executives, including Chris Salisbury, the head of its iron-ore division, will also leave the company at the end of this year. Many mining operations are on land traditionally owned by indigenous groups, including in South America, Africa and the Arctic Circle. Their activities can be a source of friction if residents don’t feel they benefit from the mining activity nearby.

Source: Wall Street Journal September 11, 2020 00:07 UTC