Rio Tinto Suspends Executive after Disclosure of $10.5 Million Payment in Guinea Mining

On November 9, 2016, Rio Tinto, the world’s second largest mining company, announced the suspension of senior executive Alan Davies and accepted the resignation of another senior executive after it discovered emails referring to unexplained payments to a consultant in Guinea concerning an iron ore project in the Simandou mountains. While the emails were sent in 2011, Rio Tinto states that it was not made aware of their existence until August 29, 2016.