Rio's J-S on a mission

RIO Tinto boss J-S Jacques likes doing things with a flourish. And so it was with the surprise decision to unveil a new US$2.5 billion share buy-back to absorb the funds freed by the group’s exit from Hunter Valley coal producer Coal & Allied. By Barry FitzGerald

Rio's J-S on a mission Rio's J-S on a mission Rio's J-S on a mission Rio's J-S on a mission Rio's J-S on a mission

It was a surprise because of the speed with which the funds are to be directed to the share buyback, and because it came against a backdrop of plunging iron ore prices, down now by $13.