Rio Tinto handed its chief executive a 70% pay rise last year, despite racking up a stack of environmental fines
- Miner paid more in penalties in 2022 than in the previous three years combined
- Fines of almost £100,000 last year as Jakob Stausholm’s pay jumped to £4.8m
Rio Tinto handed its chief executive a 70 per cent pay rise last year, despite racking up a stack of environmental fines.
The mining giant paid out more in penalties through 2022 than in the previous three years combined. Offences included killing a gazelle, emissions breaches and soil contamination.
The environmental fines totalling almost £100,000 in the last financial year did not hamper chief Jakob Stausholm’s pay, which skyrocketed from £2.8 million to £4.8 million.
Paying the penalty: The environmental fines totalling almost £100,000 in the last financial year did not hamper chief Jakob Stausholm’s pay
Rio’s business practices have been mired in controversy in recent years.
Stausholm was hired as chief executive in January 2021 to replace Jean-Sebastien Jacques, who quit after outrage over its decision to blow up sacred Aboriginal rock shelters.
Last week, Rio Tinto more than halved its dividend to £6.7 billion after a 41 per cent profit slump.
Rio Tinto was contacted for comment.
