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Rio Tinto suspends executive amid corruption probe

Jaclyn Jaeger | November 11, 2016

Mining giant Rio Tinto said this week that it has suspended Alan Davies, who was appointed chief executive of its energy and minerals division earlier this year, after uncovering potentially corrupt payments made to a consultant who was providing advisory services on an iron ore project in Guinea.

Additionally, Debra Valentine, group executive for legal and regulatory affairs, has stepped down from her role. Valentine previously notified the company of her intention to retire on May 1, 2017.

In a prepared statement, Rio Tinto said it did not became aware of e-mail correspondence from 2011 relating to the contractual payments to the consultant, totaling US$10.5 million, until Aug. 29, 2016. Davies was...

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