Rio Tinto and two former top executives have filed a motion requesting a U.S. regulator’s lawsuit accusing them of fraud for overstating the value of Mozambique coal assets to be dismissed.
Australia’s corporate watchdog is taking Rio Tinto’s former chief executive Tom Albanese and chief financial officer Guy Elliott to court for allegedly misleading investors in relation to the miner’s botched coal investment in Mozambique.
The long-lasting, intense, debate over a re-opening of the ill-fated Panguna copper-gold mine (formerly owned by Rio Tinto) in Bougainville, seems to have reached an interim resolution. (See: Bougainville announces moratorium on Panguna mine ).
PNG Industry News has now confirmed that: “The doors to Bougainville Copper Mines (BCL) and RTG Mining – both anxious to redevelop the mine which has been closed since 1989 – have now been firmly shut by President John Momis”.
A bluff, grinning, Anil Agarwal chose the recent World Economic Forum to announce that his majority-owned Vedanta Resources plc had now cracked its problem of accessing Orissa’s bauxite resources.
Villagers, sorely impacted by London-listed Vedanta’s Tuticorin copper smelter in Tamil Nadu, have commenced an “indefinite fast” against its pollution of their water resources and air.
