5 hours ago 1

Rio Tinto CEO to Step Down

Abdul Rahman

Fri, May 23, 2025, 12:16 PM 2 min read

Stausholm has been part of Rio Tinto since 2018 when he came on board as the Chief Financial Officer. He later took the company’s reigns after which he “reset the company’s strategy to align the group to the opportunities of the energy transition and shaped a pathway to a decade of profitable growth.”

Chair Dominic Barton emphasized that Stausholm has “restored trust with key stakeholders” and built a strong foundation for future growth. Most importantly, Barton said, the CEO's succession will allow Rio Tinto to enter its next phase, focusing on operational excellence.

As that happens, the company has revealed plans to expand its Amrun bauxite mine on Cape York Peninsula. The Kangwinon project aims to nearly double the bauxite production capacity from Rio Tinto’s (NYSE:RIO) Weipa Southern operations. This $1.9 billion expansion would generate over 800 construction jobs and could increase annual production by up to 20 million tons.

Rio Tinto (NYSE:RIO) is a global mining company that explores, mines, and processes mineral resources. The company operates through segments like Iron Ore, Aluminum, Copper, and Minerals. It produces iron ore, bauxite, alumina, copper, gold, silver, diamonds, borates, titanium dioxide, and lithium.

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