Rio Tinto's (RIO -0.7%) problems in Mozambique appear to have been the final straw that broke...

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

Rio Tinto's (RIO -0.7%) problems in Mozambique appear to have been the final straw that broke Tom Albanese as CEO, but more broadly, Rio has fallen down a strategic hole on Albanese's watch. While peers have diversified, Rio generates more than 80% of its earnings from iron ore. The appointment of iron ore vet Sam Walsh as new CEO offers little chance Rio will change course soon.