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Some of the key points during Tom Albanese’s time as ceo of Rio Tinto. Albanese was ousted on January 17 as the company announced a further writedown of $14 billion
May 2007 Albanese takes over as ceo of major mining company Rio Tinto Cash aluminium averages $2,794 per tonne on London Metal Exchange
July 2007 Rio Tinto puts in $38 billion bid for aluminium producer Alcan, beating off competition from Alcoa Cash aluminium averages $2,732 on LME
August 2007 Rio secures $40 billion in financing for Alcan purchase Cash aluminium averages $2,541 on LME
October 2007 – Rio announces it has all the necessary approvals to complete the purchase Cash aluminium averages $2,442 on LME
November 2007 – BHP Billiton launches a bid to take over Rio Cash aluminium averages $2,506 on LME
December 2007 – Albanese refuses to engage with BHP. Cash aluminium averages $2,381 on LME
July 2008 Cash aluminium averages $3,070 on LME
Dec 2008 Cash aluminium averages $1,490 on LME
February 2009 – Rio agrees $19.5 billion cash injection from Chinese producer Chinalco to offset its heavy debts Cash aluminium averages $1,330 on LME June 2009 – Rio ditches Chinalco deal Cash aluminium averages $1,573 on LME
June 2009 – Jan du Plessis says Albanese will stay on as ceo, defends Chinalco bailout decision Cash aluminium averages $1,573 on LME
January 2011 – Rio Tinto concludes sale of majority stake in Rio Tinto Alcan’s engineered products division Cash aluminium averages $2,439 on LME
June 2011 – Rio Tinto takes control of Riversdale Mining for $4 billion, a coking coal producer in Mozambique
Cash aluminium averages $2,662 on LME
October 2011 – Rio announces plans to sell its aluminium assets Cash aluminium averages $2,171 on LME
February 2012 – Albanese turns down his bonus after a writedown of $8.86 billion Cash aluminium averages $2,203 on LME
March 2012 – The company announces a date for the closure its Lynemouth smelter Cash aluminium averages $2,182 on LME
January 17 2013 – Albanese steps down on a further writedown, this time of $14 billion, a large part of it from the aluminium assets Rio acquired at the start of his tenure as ceo and a big writedown on the coal assets it bought in Mozambique Cash aluminium trades at $2.003/3.50 on an official basis