SYDNEY, May 22, 2025 (BSS/AFP) - The chief executive of British-Australian firm Rio Tinto will step down this year once a replacement is found, the mining giant said Thursday in a statement.

Jakob Stausholm took the reins at Rio Tinto -- one of the biggest miners in the world -- in early 2021, following a major scandal over the destruction of important Indigenous sites in Australia.

"It has been an absolute privilege to lead Rio Tinto, one of the great mining and materials companies in the world," Stausholm said in a statement.

"I know the company will continue to thrive long into the future."

Rio Tinto chair Dominic Barton said the Danish-born economist had helped restore trust in the company.

Heavily focused on iron ore mining, Rio Tinto has been hit hard by China's unfolding property crisis and its sagging appetite for steel.

It is increasingly seeking to build its stake in copper, a coveted metal used in everything from electrical wiring to rechargeable batteries.

Rio Tinto touted this year its "resilient financials" as annual results for 2024 showed a 15 percent lift in net profit to $11.6 billion.