Rio Tinto’s (ASX, LON, NYSE: RIO) former chief executive Jean-Sébastien Jacques and other two executives forced to leave the company after the destruction of sacred rock shelters in Western Australia closed out 2020 with substantial payouts.

Jacques received £13.3 million ($18.6 million) in pay and long-term incentive rewards last year, compared to £7.1 million ($9.9 million) in 2019, Rio’s annual report, published on Monday, shows.

The French executive and two other senior managers — former iron ore boss Chris Salisbury, and ex-corporate affairs head Simone Niven — had to step down last September. The move was a direct result of shareholder and public outcry over the destruction of the 46,000-year-old Juukan Gorge caves to expand an iron ore mine, despite opposition from traditional landowners.

Jacques’ annual pay increase was driven by a surge in the value of unvested shares awarded in 2016 when he took the company’s helm. The paycheque could have been heftier, but the sacred sites blasting cost Rio’s ex-boss performance bonuses worth an estimated £2.7 million ($3.8 million).

Salisbury received total remuneration of A$6.7 million ($5.3 million) including termination benefits and unvested share awards, from A$2.9 million in 2019. Salisbury lost a A$1.1 million short-term incentive.

Niven lost £525,000 in short-term incentives but received £5.1 million, including £1.1 million in termination benefits and unvested share awards.

Enough sanctions?

The world’s second largest miner noted that, in determining the final payout to all three departing executives, it “fully recognized the gravity of the destruction at Juukan Gorge, but [the board] was mindful that the three executives did not deliberately cause the events to happen, they did not do anything unlawful, nor did they engage in fraudulent or dishonest behaviour or willfully neglect their duties.”

Rio’s move triggered immediate criticism, with the Australasian Centre for Corporate Responsibility (ACCR), which represents institutional investors, arguing none of the three former executives should have been rewarded.

“The decision to destroy the Juukan Gorge caves was morally repugnant and financially stupid,” James Fitzgerald, strategy lead of ACCR, said in a statement. “It has already cost the company millions, and the true cost won’t be known for years to come.”

Fitzgerald added the payout casts doubt over the company’s various “expressions of sorrow and regret” over the incident.

Rio, which is also the world’s top iron ore miner, added that it had to factor in “the loss of employment for the three individuals, against the considerable achievements of those executives over many years.”

“In this context, the loss of employment was considered the greater sanction,” the company said.

Rio Tinto rewarded investors last week with the biggest dividend in its 148-year history — $9 billion in cash, including a record final dividend of $6.5 billion.

Feb. 22 (Xinhua) -- Mongolia on Monday night received 300,000 doses of Sinopharm COVID-19 vaccine donated by China.

The vaccine donation was welcomed at the Chinggis Khaan International Airport in Mongolia's capital city of Ulan Bator by Mongolian Deputy Prime Minister Sainbuyan Amarsaikhan and Chinese Ambassador to Mongolia Chai Wenrui.

"On behalf of the Mongolian government and people, I would like to express my deep gratitude to China, our friendly neighbor and comprehensive strategic partner, for extending its helping hand during this difficult time," said Amarsaikhan.

"There is a Mongolian saying that goes, 'Close neighbors have one life, far away neighbors have one mind.' Since the start of the COVID-19 outbreak, Mongolia and China have provided each other with material and emotional support, which is a real example of how neighboring countries are overcoming difficulties together," he said.

For his part, Chai said, "The current global vaccine supply and demand are very tight. China has overcome difficulties when its own vaccine supply is not sufficient, and has not hesitated to give 300,000 doses of vaccine to Mongolia free of charge, which shows that China attaches great importance to China-Mongolia relations and the friendship between the two peoples."

The Chinese ambassador expressed confidence that these vaccines will contribute to the protection of people's lives and the fight against the pandemic in Mongolia.

Mongolia is planning to vaccinate at least 60 percent of its 3.3 million people, or all adults in the country, against the coronavirus, with 20 percent of them to be vaccinated under COVAX, a global initiative to ensure quick and equal access to vaccines against the virus, according to the country's health ministry.

The Asian country is expected to launch a nationwide COVID-19 vaccination campaign on Tuesday.

As of Monday, the country recorded 2,693 COVID-19 cases, with six deaths. Enditem

(Reuters) - Boeing Co urged airlines to suspend the use of 777 jets with the same type of engine that shed debris over Denver at the weekend after U.S. regulators announced extra inspections and Japan suspended their use while considering further action.

The moves involving Pratt & Whitney PW4000 engines came after a United Airlines 777’s right engine failed on Saturday, scattering its protective outer casing over a residential area.

United said the next day it would voluntarily and temporarily remove its 24 active planes, hours before Boeing’s announcement.

Boeing said 69 of the 777 planes with PW4000 engines were in service and 59 were stored, at a time when airlines have grounded planes due to a plunge in demand associated with the COVID-19 pandemic.

The manufacturer recommended airlines suspend operating them until U.S. regulators identified the appropriate inspection protocol.

It falls short of a mandatory global grounding but is another headache for the plane maker after its 737 MAX crisis and comes after criticism of U.S. Federal Aviation Administration (FAA) oversight regarding the 737 MAX.

The 777-200s and 777-300s affected are older and less fuel efficient than newer models and are currently being flown by just five airlines - United, Japan Airlines Co Ltd (JAL), ANA Holdings Inc, Asiana Airlines Inc and Korean Air Lines Co Ltd. Most of them are phasing them out of their fleets.

The problem concerns Pratt & Whitney, one of three engine makers originally involved in the 777, whose engines power less than 10% of the delivered fleet of more than 1,600 planes.

The National Transportation Safety Board (NTSB) said its initial examination of the 26-year-old plane indicated most of the damage was confined to the right engine, with only minor damage to the airplane.

Korean Air to follow relevant authorities' directives on Boeing 777

It said the inlet and casing separated from the engine and two fan blades were fractured, while the other fan blades exhibited damage.

Pratt & Whitney, owned by Raytheon Technologies Corp, said it was coordinating with operators and regulators to support a revised inspection interval for the engines.

METAL FATIGUE

Japan’s transport ministry ordered JAL and ANA Holdings to suspend their use while it considered whether to take additional measures, acting before the FAA.

An official at South Korea’s transport ministry said it was waiting for formal action by the FAA before giving a directive to its airlines. The U.S. agency said it would soon issue an emergency airworthiness directive.

“Based on the initial information, we concluded that the inspection interval should be stepped up for the hollow fan blades that are unique to this model of engine, used solely on Boeing 777 airplanes,” the FAA said.

Japan’s transport ministry said that on Dec. 4, 2020, a JAL flight from Naha Airport to Tokyo returned to Naha due to a malfunction in the left engine.

Its Transport Safety Board said on Dec. 28 that it had found two of the left engine’s fan blades were damaged, one from a crack due to metal fatigue. The investigation is ongoing.

Korean Air - which has 16 of the planes, 10 of them stored - said it will follow the relevant authorities’ directives on any measures.

The Dutch Safety Board said on Monday it was investigating what had caused a Boeing 747-400 to lose parts of a different type of PW4000 engine shortly after taking off from Maastricht airport on Saturday.

The European Union Aviation Safety Agency meanwhile said it was requesting information on the cause to determine what action was needed.

In February 2018, a 777 of the same age operated by United suffered an engine failure when a cowling fell off about 30 minutes before the plane landed safely. The NTSB determined that incident was the result of a full-length fan blade fracture.

Reporting by Jamie Freed in Sydney and David Shepardson in Washington; additional reporting by Eimi Yamamitsu and Maki Shiraki in Tokyo, Joyce Lee in Seoul and Tim Hepher in Paris; Editing by Sam Holmes, Christopher Cushing and Emelia Sithole-Matarise

Hong Kong (CNN Business)Rio Tinto's former CEO got a huge payout last year despite being forced to resign over the company's destruction of a sacred Indigenous site in Australia.

Jean-Sébastien Jacques received £13.3 million ($18.6 million) in pay and long-term incentive rewards in 2020, compared to £7.1 million ($9.9 million) the previous year, according to the company's annual report, which was published on Monday.

Jacques was forced to depart under pressure from investors last September in the wake of the mining giant's demolition of the Juukan Gorge caves in Western Australia. The company destroyed the 46,000-year-old Indigenous site last May to expand an iron ore mine.

The local custodians of the land, the Puutu Kunti Kurrama and Pinikura people, had been fighting for seven years to protect the caves.

Rio Tinto later apologized for the incident, with its chairman Simon Thompson admitting: "What happened at Juukan was wrong."

The company also cut bonuses for Jacques and two other senior executives, worth a combined £3.8 million ($5 million). But it didn't immediately fire any executives, which led to more criticism of the company's response.

Jacques handed the reins over to Chief Financial Officer Jakob Stausholm on January 1. Chris Salisbury, head of the iron ore business, and Simone Niven, group executive for corporate relations, also left the company at the end of December.

Rio Tinto said in its annual report that in determining the final payout to all three departing executives, "the board fully recognized the gravity of the destruction at Juukan Gorge but was mindful that the three executives did not deliberately cause the events to happen, they did not do anything unlawful, nor did they engage in fraudulent or dishonest behavior or willfully neglect their duties."

It also added that it had to factor in "the loss of employment for the three individuals, against the considerable achievements of those executives over many years."

"In this context, the loss of employment was considered the greater sanction," the company wrote.

Turkish Cooperation and Coordination Agency (TİKA) distributed food parcels and hygiene products to 2000 families in Mongolia in order to support the fight against COVID-19.

As part of the project implemented by TİKA, a total of 2,000 food parcels were distributed to the General Authority for Development of Persons with Disabilities and low-income families in the municipalities of Bayangol, Bayanzürkh, Nalaikh, Khan Uul, Songino Khairkhan, Sükhbaatar, and Chingeltei in Ulaanbaatar. The food parcels were delivered to families at a ceremony held on “Tsagaan Sar (White Moon),” the most important national holiday in Mongolia.

The ceremony was attended by Zülfikar Sarkıt, Mongolia’s Deputy Minister of Labor and Social Protection; Emrah Ustaömer, TİKA’s Ulaanbaatar Coordinator; and the representatives of the social welfare agencies of municipalities.

In his speech at the ceremony, Zülfikar Sarkıt, Mongolia’s Deputy Minister of Labor and Social Protection, said, “TİKA always supports Mongolia by implementing projects in different fields. Low-income families needed food aid due to the COVID-19 lockdown imposed in the country. As our Ministry could not provide sufficient food aid to these families, we submitted our request to TİKA. Thankfully, TİKA accepted our request. We are very pleased with this support, which is provided on a religious holiday that is very important for the people of Mongolia and celebrated by sharing food as a ritual. We would like to thank the Government of Turkey and TİKA.”

Feb. 22 (Xinhua) -- The number of COVID-19 cases in Mongolia has increased to 2,693, the country's National Center for Communicable Diseases (NCCD) said Monday.

A total of 55 new locally transmitted cases were detected in the country's capital Ulan Bator in the last 24 hours, the NCCD said in a statement.

Meanwhile, 69 more patients have recovered from the disease, bringing the total number of recoveries in the country to 1,933, it added.

The Asian country has so far recorded six coronavirus-related deaths since confirming its first case in March 2020. Enditem

Ulaanbaatar/MONTSAME/. In January 2021, the consumer price index at the national level rose by 1.0% from the previous month and increased by 2.4% from the same period of the previous year.

The 2.4% increase in the CPI from the same period of the previous year was mainly contributed by 8.4% rises in prices of food and non-alcoholic beverages group (non-alcoholic beverages by 5.1%), 4.2% rises in prices of alcoholic beverages and tobacco group, 3.4% rises in prices of clothing, cloth and footwear group, 3.8% rises in prices of medicine and medical service group, though the prices of housing, water, electricity and fuels group dropped by 6.3% (electricity, gas and other fuels decreased by 12.3%), and prices of transport group decreased by 5.2%.

The 1.0% increase in CPI from the previous month was mainly due to a 1.5% increase in prices of housing, water, electricity, and fuels group (electricity, gas and other fuels by 2.3%), 2.8% increase in prices of food and non-alcoholic beverages group (meat and meat products by 4.4%), 0.1% increase in prices of clothing, cloth and footwear group, and 0.3% increase in prices of medicine and medical service group.

The inflation rate was 6.9% in January 2018, 7.3% in January 2019, 5.6% in January 2020, and 2.4% in January 2021, with a decrease of 3.2 percentage points from the same period of the previous year.

In terms of group contribution of price changes of goods and services groups to 2.4% inflation rate in January 2021, 2.2 units (91.7%) were contributed from the change in prices of food and non-alcoholic beverages group.

The prices of 373 items were collected for the consumer goods and services basket at the national level, whilst the prices of 344 items were collected for the goods and services basket in Ulaanbaatar. From 373 items of goods and services, 200 items are imported goods and services, which account for 45.5% of the total weight.

In January 2021, 37.5% of the 2.4% inflation rate was mainly contributed by the increase in prices of imported goods and services, while the contribution of prices of imported goods and services was the same as January 2020.

Source: National Statistics Office

Ulaanbaatar/MONTSAME/. By preliminary results of January 2021, the gross industrial output reached MNT 1.6 trillion, increased by MNT 415.9 billion (35.8%) from the same period of the previous year.

This increase was mainly due to MNT 325.6 billion (42.8%) increase in mining and quarrying gross output and MNT 79.7 billion (30.7%) increase in manufacturing output. Also, the output of electricity, gas, steam, air conditioning supply increased by MNT 9.8 billion (7.5%) and the output of water supply, sewerage, waste management, and remediation activities increased by MNT 777.2 million (7.2%) from the same period of the previous year.

By preliminary results of January 2021, the mining and quarrying gross output reached MNT 1.1 trillion, increased by MNT 325.6 billion (42.8%) from the same period of the previous year. This increase was mainly due to increases in the mining of metal ores by 65.2 billion (14.9%), extraction of crude petroleum by MNT 12.8 billion (21.1%), and mining of coal and lignite by MNT 257.1 billion (2.1 times) from the same period of the previous year.

The gross industrial output decreased by MNT 210.8 billion (11.8%) from the previous month. This decrease was mainly due to MNT 231.7 billion (17.6%) decrease in mining and quarrying gross output. By preliminary results of the mining and quarrying sector in January of 2021, extraction of copper concentrate, gold, fluorspar, crude oil, and hard coal increased by 0.3% to 2.0 times compared to the same period of the previous year. In the manufacturing sector, production of main products such as lime, alcohol, soft drinks, juice, milk, flour, meat, refined coal increased by 1.1% to 2.7 times compared to the same period of the previous year. Also, the production of coal briquettes and face masks increased by 79.1% to 7.9 times more compared to the same period of the previous year.

Source: National Statistics Office

The past year is one that few of us will forget. While the impacts of the COVID-19 pandemic have played out unevenly across Asia and the Pacific, the region has been spared many of the worst effects seen in other parts of the world. The pandemic has reminded us that a reliable and uninterrupted energy supply is critical to managing this crisis.

Beyond ensuring that hospitals and healthcare facilities continue to function, energy supports the systems and coping mechanisms we rely on to work remotely, undertake distance learning and communicate essential health information. Importantly, energy will also underpin cold chains and logistics to ensure that billions of vaccines make their way to the people who need them most.

The good news is our region’s energy systems have continued to function throughout the pandemic. A new report Shaping a sustainable energy future in Asia and the Pacific: A greener, more resilient and inclusive energy system released today by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) shows the energy demand reductions have mainly impacted fossil fuels and depressed oil and gas prices. Renewable energy development in countries across the region, such as China and India, has continued at a healthy pace throughout 2020.

As the Asia-Pacific region transitions its energy system to clean, efficient and low carbon technologies, the emergence of the pandemic raises some fundamental questions. How can a transformed energy system help ensure our resilience to future crises such as COVID-19? As we recover from this pandemic, can we launch a “green recovery” that simultaneously rebuilds our economies and puts us on track to meet global climate and sustainability goals?

A clean and sustainable energy is central to a recovery from COVID-19 pandemic. By emphasizing the importance of the SDGs as a guiding framework for recovering better together, we must focus on two critical aspcets:

First, by making meaningful progress on the SDGs, we can address many of the systemic issues that made societies more vulnerable to COVID-19 in the first place – health, decent work, poverty and inequalities, to name a few.

Second, by directing stimulus spending to investments that support the achievement of the SDGs, we can build back better. If countries focus their stimulus efforts on the industries of the past such as fossil fuels, we risk not creating the jobs we need, or moving in the right direction to achieve the global goals that are critical to future generations. The energy sector offers multiple opportunities to align stimulus with the clean industries of the future.

The evidence shows that renewable energy and energy efficiency projects create more jobs for the same investment as fossil fuel projects. By йincreasing expenditure on clean cooking and electricity access, we can enhance economic activity in rural areas and bring modern infrastructure that can make these communities more resilient and inclusive, particularly for the wellbeing of women and children.

Additionally, investing in low-carbon infrastructure and technologies can create a basis for the more ambitious climate pledges we need to reach the Paris Agreement targets of a 2-degree global warming limit. On this note, several countries have announced carbon neutrality, demonstrating a long-term vision and commitment to an accelerated transformation to sustainable energy. Phasing out the use of coal from power generation portfolios by substituting with renewables, ending fossil fuel subsidies, and implementing carbon pricing are some of the steps we can take.

The COVID-19 crisis has forced us to change many aspects of our lives to keep ourselves and our societies safe. It has shown that we are more adaptive and resilient than we may have believed. Nevertheless, we should not waste the opportunities this crisis presents for transformative change. It should not deflect us from the urgent task of making modern energy available to all and decarbonizing the region’s energy system through a transition to sustainable energy. Instead, it should provide us with a renewed sense of urgency.

We must harness the capacity of sustainable energy to rebuild our societies and economies while protecting the environment in the pursuit of the 2030 Agenda for Sustainable Development.

Op-Ed by Armida Salsiah Alisjahbana, Under-Secretary- General of the United Nations and Executive Secretary of ESCAP