But Rio Tinto stopped short of firing all operators, criticizing investor groups who accused the company of not taking full responsibility for the demolition of the caves, which had significant archaeological value and deep cultural significance for aboriginal people.
“It’s clear that no single individual was responsible for the destruction of the Juukan rockshelters as a mistake, but there were several missed opportunities over almost a decade and the company failed to maintain one of Rio Tinto’s core values - respect for local communities and their heritage, “said President Simon Thompson in a statement on Monday.
“We will implement important new measures and governance to ensure that we do not repeat what happened,” he added.
Rio Tinto said it will withhold performance bonuses from CEO Jean-Sébastien Jacques, head of its iron ore company Chris Salisbury, and group director for business relations, Simon Niven.
In addition to withdrawing its £ 1.7 million ($ 2.2 million) bonus this year, Jacques’ vest awards will have been reduced by £ 1 million ($ 1.3 million) in 2021. The CEO will earn £ 5.8 million ($ 7.6 million) in 2019 including salary, benefits, a bonus and share prices, according to Rio Tinto’s latest annual report.
Investor groups in Australia said the company’s actions did not go far enough.
“The Rio Tinto Board’s review report does not provide significant responsibility for the destruction of some of Australia’s most important cultural sites,” said Louise Davidson, CEO of the Australian Board of Superannuation Investors, in a statement. The body represents institutional investors.
Not only did the destruction of the caves result in a “devastating cultural loss,” but it is of major concern to investors because it “jeopardizes the social license to operate Rio Tinto,” Davidson added.
“This is a devastating outcome for the people of Puutu Kunti Kurrama and Pinikura, and a massive loss to the heritage of all Australians,” said Simon O’Connor, CEO of the Responsible Investment Association Australasia. “The current information has exposed major failures in the internal processes to meet the company’s own commitments to protecting native heritage,” he added.
According to Rio Tinto, “material new information” that came to light after legal approvals for the mine were obtained in 2013 should have led to a reconsideration of its expansion plans.
For example, in a 2014 report, Australian archaeologist Michael Slack identified the sites as “one of the most archaeologically important sites in Australia.”
These findings were amplified in a final report delivered to Rio Tinto four years later, in which Slack said the site “has great potential to radically change our understanding of the first human behavior in Australia … The significance of this can not be overstated. overestimated. “
.
