Rio Tinto chairman, director, to step down after controversy

Under fire: Rio Tinto Group’s 10mm copper rod emerges from the finishing mill in Palabora Mining Co. The destruction of two ancient Aboriginal rock shelters for an iron ore mine last year in Western Australia has brought a lot of pressure on the group. ─ Bloomberg

MELBOURNE: Rio Tinto Ltd has said that its chair and a board director would step down, bowing to investor pressure over the destruction of two ancient Aboriginal rock shelters for an iron ore mine last year in Western Australia.

Simon Thompson will step down as chairman following next year’s annual general meetings, while non-executive director Michael L’Estrange will also retire from the board after this year’s meetings, Rio said in a statement. “I am ultimately accountable for the failings that led to this tragic event, ” Thompson said in the statement.