Perth-based mining billionaire Gina Rinehart has suggested that the new boss of Rio Tinto, Sam Walsh, should relocate Rio’s London headquarters to Perth.
Rio is in a joint venture with Rinehart’s company, Hancock Prospecting, in the Hope Downs iron ore mine, a project for which Walsh has been directly responsible.
More than 80% of Rio’s profits come from its iron ore division, which is based in Perth. However, three-quarters of its shares are listed in London.
Rinehart has made no secret that she hopes for an ally in her campaign to overturn the carbon tax in the newly-elevated Walsh.