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Rio Tinto 'comfortable' with dual-listing structure, says CEO

Rio Tinto CEO Jean-Sébastien Jacques said the miner is "comfortable" with its existing dual-listing structure, the Financial Times wrote Feb. 8.

"With Chris Lynch [Rio Tinto's finance director] we look at it on a regular basis," Jacques said.

Jacques added that the company's current listing structure did not create any problems, but in the "medium and long term" it could be changed according to the prevailing tax environment. The company is listed in Australia and the U.K.

The comments come amid pressure on fellow mining giant BHP Billiton Group by activist shareholder Elliott Management to simplify its corporate structure by dropping its own dual listing structure, a move that Elliott insists could add US$22 billion to BHP's shareholder value.

The executive told the newspaper that Rio Tinto has the capacity to add more assets, but it will only do it "at the right value," adding that he was not "into growth for the sake of it."

"I [do not] want to be the biggest mining company in the world. I want to be the most profitable," said Jacques.