Rio boss waives bonus after huge write-down of aluminium assets – UPDATE
Mining (Euronext: SMI.NX - news) giant Rio Tinto (Berlin: CRA1.BE - news) has hiked its full-year dividend by 34% after reporting record underlying earnings in 2011, but net earnings were held back by a massive $8.9bn impairment charge relating to its aluminium businesses, prompting the group's Chief Executive to forgo his annual bonus.