Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Indian mining group Vedanta (LON:VED) announced Monday it has appointed former Rio Tinto’s (LON:RIO) chief executive, Tom Albanese, as chairman of its subsidiary Vedanta Resources Holdings Ltd.
The news comes only nine months after Albanese was removed as CEO of the second-biggest miner and left the group with a $14billion charge.
So far he is the only one of the long list of CEOs ousted in 2012 and early this year who has returned to a full-time role at a major mining company.
The New Jersey-born engineer will be actively involved in developing the company’s strategy, policies and growth objectives, Vedanta said in a statement.
Comments
Andrew
Good for you Tom, maybe you can buy up everything that Rio is selling and build again. Pebble still waiting to be developed! Still think the board at Rio should have been sacked instead of you since they pushed the Alcan deal.