Rio Tinto Defers Former CEO Walsh’s Bonuses Amid Guinea Payment Probe

Walsh agreed to defer millions in payments pending the results of an inquiry into a potentially unlawful $10.5 million handed to a consultant on the Simandou iron ore project. Rio Tinto Group has deferred millions of dollars of bonuses due to retired CEO Sam Walsh while investigations continue into a potentially unlawful $10.5 million payment connected to the acquisition of mining rights during his period in charge.

Rio Tinto Beats Q4 Expectations, Reaffirms 2017 Targets

Strong cash flows could lead to significant dividend hikes and share buybacks, underpinning a rally that has lifted shares by a third in the three months. Rio Tinto shares traded firmly lower in London Tuesday despite solid fourth quarter earnings from the world’s biggest seaborne iron ore exporter and a confirmation of its 2017 targets that set the stage for increased dividends and share buybacks.