There was a strong sense of yesterday’s heroes when departing Rio Tinto chief executive Jakob Stausholm hosted a range of foreign and domestic dignitaries in the Pilbara iron ore district on Friday.
The official opening of the $2.4 billion Western Range mine could easily be Stausholm’s last visit to the Pilbara as chief executive, and his successor will be greeted with a public narrative that Australian iron ore is in decline, requiring Rio to pivot towards a new hero such as copper or lithium.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.