Rio Tinto takes a $14bn writedown and its chief executive leaves

Rio Tinto announced about $10bn to $11bn of impairments on aluminium and about $3bn on Mozambique coal. Chief executive Tom Albanese stepped down and Sam Walsh replaced him.

Why it matters. Overpaying at the top of the cycle eventually shows up in impairments and in management changes.

Source

Mining Weekly

In the course

Module 5: Valuing a mine