Rio Tinto chief’s pay rockets as eco fines soar

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.

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.