Rio Tinto delays bonuses for its former boss amid Guinea probe

Rio Tinto will yet again delay bonus payments to its former chief executive amid concerns over $10.5m (£8.3m) paid to a consultant on an African mining project.

The payouts to ex-boss Sam Walsh were first postponed in 2017 when Rio Tinto said it would delay his bonuses for at least two years.

Payments of $10.5m (£8.3m) to a consultant on the Simandou iron ore project in Guinea regulators were referred to regulators two years ago.

“Given investigations remain ongoing the board has asked Sam to agree to a further deferral until the investigations have concluded,” Rio Tinto said.

Walsh’s base salary was around AU$2m (£1.1m) a year when he retired after 25 years at the company.

“I would add that the company acknowledges my firm belief that during my time with Rio Tinto I always acted lawfully and in accordance with my duties and this applies to the Simandou project,” Walsh said at the time, adding he left “with a good conscience”.