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You can find the current article at its original source at http://www.theguardian.com/business/2013/sep/16/former-rio-tinto-tom-albanese-joins-vedanta
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| Former Rio Tinto boss joins Vedanta | Former Rio Tinto boss joins Vedanta |
| (about 2 hours later) | |
| Tom Albanese, the former chief executive of Rio Tinto, has been appointed by fellow mining company Vedanta as chairman of one of its subsidiaries. | Tom Albanese, the former chief executive of Rio Tinto, has been appointed by fellow mining company Vedanta as chairman of one of its subsidiaries. |
| Albanese resigned from the top job at Rio after more than 30 years with the company, taking responsibility for a $14bn (£8.8bn) write-down following bad deals. | Albanese resigned from the top job at Rio after more than 30 years with the company, taking responsibility for a $14bn (£8.8bn) write-down following bad deals. |
| He will not sit on Vedanta's main board, but instead will chair Vedanta Resources Holdings, which sits in between the main board and the miner's operating companies. | He will not sit on Vedanta's main board, but instead will chair Vedanta Resources Holdings, which sits in between the main board and the miner's operating companies. |
| "In this role, Tom will be actively involved in continuing to develop the company's strategy, policies and growth objectives," the FTSE 100 miner said on Monday. | "In this role, Tom will be actively involved in continuing to develop the company's strategy, policies and growth objectives," the FTSE 100 miner said on Monday. |
| Albanese will advise both Vedanta's chairman, Anil Agarwal, and chief executive, Mahendra Mehta, in the new role, which takes effect immediately. | |
| Agarwal said he looked forward to bringing Albanese's "considerable experience and energy to Vedanta to support our twin aims of delivering sustainable growth and creating long-term value for our shareholders". | Agarwal said he looked forward to bringing Albanese's "considerable experience and energy to Vedanta to support our twin aims of delivering sustainable growth and creating long-term value for our shareholders". |
| Vedanta is London-based but with the bulk of its operations in India. It produces aluminium, copper, zinc, lead, silver, iron ore, oil and gas and commercial energy. | Vedanta is London-based but with the bulk of its operations in India. It produces aluminium, copper, zinc, lead, silver, iron ore, oil and gas and commercial energy. |
| Albanese has already visited many of Vedanta's operations which are also located in Africa and Australia, and a spokeswoman for the company said he had come to know Agarwal well over the last few months. | Albanese has already visited many of Vedanta's operations which are also located in Africa and Australia, and a spokeswoman for the company said he had come to know Agarwal well over the last few months. |