Companies

Jan 22, 2013

He’s not Moses, he’s just a miner: Albanese departure shifts debate

With Rio Tinto writing down billions, maybe it's time for some realism in debates about "productivity", "sovereign risk", and whether miners are the Messiah. Glenn Dyer and Bernard Keane report.

While shareholders are no doubt glad to see the end of Tom Albanese’s expensive reign at Rio Tinto, perhaps his departure can also usher in some more sensible debate in Australia about productivity, industrial relations and the quality of our business management.

4 comments

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4 thoughts on “He’s not Moses, he’s just a miner: Albanese departure shifts debate

  1. tinman_au

    Is it true that the Rio Pilbra mines are non-union, and that the productivity went from 23,000 tons per worker to 16,000 a year? I can’t recall where I read it, but it was recently.

    Makes it hard to make a case that it’s the unions fault if it’s true.

  2. Dogs breakfast

    Messrs Dyer and Keane,

    Well spoken. Indeed, I have been wondering recently if Mr Albanese now knows the meaning of the term ‘sovereign risk.

    I was considering putting in an application for the job at Rio Tinto, on the basis that I could assure them that I would destroy less than $1b p.a. a turnaround of $4.9b p.a. on average. 🙂

    The sycophancy of substantial sections of the print and TV industries has been more than a little galling.

  3. John Bennetts

    This should have been today’s lead item.

    Nice work.

  4. Dawson Colin

    Nor any mention of astronomical executive remuneration failing to secure efficient management…

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