Andrew Harding to lead Rio Tinto Iron Ore

Mining giant Rio Tinto has appointed Andrew Harding to succeed Sam Walsh as its iron ore chief executive.

Mr Harding, who has headed up Rio’s copper division since November 2009, has been with the company since 1992.

His successor as copper chief executive will be Jean-Sebastien Jacques.

“These two appointments strengthen our senior management team and are in line with our strategy of developing the next generation of talented Rio Tinto leaders,” Mr Walsh said in a statement.

“Andrew’s experience across a range of Rio Tinto businesses and countries and his three years on the executive committee mean he is ideally placed to run the highest-earning business in the group.”

Rio Tinto shares slipped by 3 per cent on the ASX, after it posted its first ever loss yesterday.

The company was also criticised for its near total dependence on iron ore despite calling itself a diversified resources company.

Rio Tinto's shares closed $1.92, or 2.66 per cent, down at $70.15 on Friday.

Rio Tinto's announced a full year net loss for 2012 of almost billion (.91 billion) after the Australian share market closed yesterday.