Rio Tinto (RIO) will arrive in 2021 much as it arrived in 2020: with surging iron ore profits and plenty of cash to hand back to shareholders. Under the surface, there are a few key differences.
For one, Jakob Stausholm will have moved into the chief executive role, in place of Jean-Sebastien Jacques. Investors also have a clearer picture of Rio’s mid-term priorities and challenges, given the new environment the major miner is facing in terms of native title in Australia, following its destruction of the Juukan Gorge rock shelters in May, which led to Mr Jacques’ departure.