More on Rio Tinto (RIO -3.1% in London) CEO quitting: Doug Ritchie, who led the acquisition and...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

More on Rio Tinto (RIO -3.1% in London) CEO quitting: Doug Ritchie, who led the acquisition and integration of the Mozambique coal assets, is also leaving. He and Albanese will receive no payoff. Mozambique assets written down by $3B, due to intractable infrastructure problems and a cut in estimates of recoverable coking coal volumes. Aluminum assets written down by $10-11B, with Rio citing deterioration in aluminum market, forex fluctuations, and high energy and raw material costs. (PR)