Chance for Australia to become mining finance hub: Rio chief – by Barry Fitzgerald (The Australian – November 25, 2016)

Rio Tinto boss Jean-Sebastien Jacques says Australia should take advantage of protectionist uncertainty caused by Brexit and Donald Trump’s election to make a pitch to become the global financial centre for mining.

Mr Jacques told a crowd of 690 people at a Melbourne Mining Club luncheon that the pitch to become the mining industry’s financial centre could be done in alliances with financial markets in Singapore and Hong Kong.

He was quizzed at the luncheon about Rio’s Guinea iron ore corruption scandal, which has led to two senior Rio executives being sacked. But there was no expansion on what has already been said by the company on the subject.

“The recent events have been very challenging for us. We cannot say any more than what is included in our public statements as it is now with the relevant authorities,’’ Mr Jacques said.

“But I want you to know the following: I take integrity and our code of conduct very, very seriously. For me it is absolutely non-negotiable. We must do the right thing wherever we operate,’’ he said.

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