Rio Tinto shareholders vote against pay plan in heritage blast protest

(Alliance News) - Rio Tinto PLC on Thursday said that shareholders voted against advisory ...

Alliance News 6 May, 2021 | 2:28PM
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(Alliance News) - Rio Tinto PLC on Thursday said that shareholders voted against advisory resolutions on executive remuneration, admitting that pay is a contentious issue after the company destroyed the Juukan Gorge Aboriginal heritage site in Australia.

Holders of 61% of shares voted against the two resolutions, on the directors' remuneration report and the implementation report, excluding abstentions and withheld votes.

"The board acknowledges that the executive pay outcomes in relation to the tragic events at Juukan Gorge are sensitive and contentious issues," the company said. It added that it will engage further with shareholders, before outlining any additional measures in response to the feedback at next year's annual general meeting.

Outcry and regulatory scrutiny followed the company after it blew up a 46,000-year-old Aboriginal heritage site to expand the Pilbara iron ore mine in Western Australia.

In May of last year, Rio Tinto had blasted rock shelters in the Juukan Gorge in Western Australia's remote Pilbara region, destroying one of the earliest known sites occupied by Australia's indigenous people, in order to expand its iron ore mine.

Rio Tinto shares were 0.1% higher at 6,417.00 pence each in London on Thursday afternoon.

By Ivan Edwards;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rio Tinto PLC 5,809.00 GBX -1.24

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