Rio Tinto, PKKP Reach Historic Agreement To Create Juukan Gorge Legacy Foundation

Vandana Singh
·1 min read

  • The Puutu Kunti Kurrama & Pinikura (PKKP) Aboriginal Corporation and Rio Tinto plc (NYSE: RIO) have agreed to create the Juukan Gorge Legacy Foundation after signing a remedy agreement regarding the tragic destruction of two ancient rock shelters at Juukan Gorge in the Pilbara region of Western Australia in 2020.

  • Rio Tinto destroyed it for an iron ore mine.

  • Reuters reported that the destruction also fueled a global uproar. It cost three senior leaders and two board members their jobs, a parliamentary inquiry, and an overhaul of the mining industry's agreements with Indigenous Australians.

  • Either party did not disclose financial terms at the request of the PKKP, the parties said.

  • Under the agreement, Rio Tinto will provide financial support to the foundation to progress major cultural and social projects.

  • The agreement forms part of Rio Tinto's commitment to remedying and rebuilding its relationship with the PKKP people.

  • Rio Tinto Chief Executive Jakob Stausholm said, "We fell far short of our values as a company and breached the trust placed in us by the PKKP people by allowing the destruction of the Juukan Gorge rock shelters. As we work hard to rebuild our relationship, I would like to thank the PKKP people, their elders, and the Corporation for their guidance and leadership in forming this important agreement."

  • Price Action: RIO shares are down 0.65% at $65.30 during the premarket session on the last check Monday.

  • Photo Via Company

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