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  • Rio Tinto staff brace for fresh shake-up

Rio Tinto staff brace for fresh shake-up

2016/07/28

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Rio Tinto staff are bracing for another round of restructuring and cutbacks, as new chief executive Jean Sebastien Jacques wields the knife in Australia and Mongolia.

The leadership team overseeing Mongolia's Oyu Tolgoi copper and gold mine will be shaken-up as the company pushes ahead with the $US5.3 billion expansion underway there.

Rio's exposure to Oyu Tolgoi comes through its 51 per cent stake in Turquoise Hill Resources, which in turn owns 66 per cent of Oyu Tolgoi LLC, and there have long been discussions over how best to streamline the arrangement.

Andrew Woodley has been chief executive of Oyu Tolgoi LLC since October 2014, but he will be replaced by Armando Torres from August 1.

Mr Torres has recently worked in the aluminium division with a particular focus on improving refineries in the Australasian region. Prior to that he was chief operations officer of Bauxite and Alumina.

Mr Woodley was well known to Rio's Australian workers, having previously served as the general manager of the Hail Creek coal mine in Queensland, and he also spent time at the Bell Bay aluminium smelter in Tasmania.

Source: The Sydney Morning Herald

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