Mr Albanese and chairman Paul Skinner, who has agreed to stay on to see the group through its difficulties – potentially scuppering a move to become chairman of BP – now face a week of fraught briefings with shareholders.
They will argue that Rio's cash injection from Chinese metals group Chinalco (which involves the sale of minority stakes in some of Rio's best assets and an increase of Chinalco's stake in Rio from 9 per cent to as much as 18 per cent) not only solves Rio's debt problems but opens the door to future mining opportunities in China.
However, the investors will say that the deal dilutes their holdings because it does not give them a chance to buy new shares. They are also worried that selling stakes in key mines to a Chinese state-owned company and giving it seats on Rio's board creates potential conflicts of interest.