ACCT6013: Corporate Governance for Managers - Management Assignment Help

Assessment Two

Case study:

In 2020 one of the world’s biggest iron and ore companies, Rio Tinto destroyed the heritage and sacred rock shelters of Juukan Gorge in the Pilbara region of Western Australia as part of an iron ore mine expansion. One of the sacred caves could be traced back 46,000 years as a habitat for the traditional owners. The destruction caused enormous distress for indigenous communities and public outcry from broader community. Stakeholders/investors demanded the industry to find a solution in regard to heritage management practices.

By reviewing the Rio Tinto’s recent Annual Reports, Risk Reports, Directors’ Report, and Remuneration Reports, website, recent media reports, and relevant peer-reviewed research you are required to answer following questions:

1. Identify and discuss the corporate governance failures at Rio Tinto that led to the destruction of Juukan Gorge.

2. Identify steps that Rio Tinto has taken to hold itself to account for the Juukan Gorge incident and to prevent similar corporate failures in future.

3. Do you agree with the steps that Rio Tinto has taken? What additional recommendations would you make to the Rio Tinto board for better corporate governance going forward?

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