Blasts at ancient Aboriginal site expose widening ESG frontline

Explosions that damaged a 40 000-year-old Aboriginal heritage site at a Rio Tinto Group iron-ore mine in Australia are focusing investor concern on the growing reputational risk companies face from social issues, widening the advocacy battlefront beyond climate change and governance.

The world’s No. 2 miner is being challenged by shareholders over its decision to carry out new blasting on May 24 for production at its Brockman 4 mine in Western Australia. While the explosions were authorized under a 2013 decision by the state government, the incident has sparked widespread controversy.