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The Simandou mine has known much turmoil and many mining rights disputes over the years. In 2008 Rio Tinto Group, the licensee of the Simandou concession, was ordered by the Guinean government to relinquish the northern half (Blocks 1 and 2, east and southeast of Kérouané) to BSGR (Beny Steinmetz Group Resources), a company controlled by the Israeli diamond investor Beny Steinmetz.
Rio Tinto in July committed $2.4 billion to its Jadar project as global miners push into metals needed for the green energy transition, including lithium, which is used to make electric vehicle ...
Editors note: A previous version of this article misstated BSG Resources relationship with Vale, in addition to stating BSG Resources paid $165 million for the right to the Simandou deposit, when ...
Rio admitted on Sept. 21 to damaging a rock shelter on Aug. 6 in Western Australia’s Pilbara region while blasting at a nearby iron ore mine. Rio is now working with the Muntulgura Guruma people ...
As part of the agreement, BSGR would relinquish its rights to Simandou and maintain an interest in the Zogota deposit that would be developed by the head of Niron Metals, Mick Davis. [39] [40] Rio Tinto then filed suit against Steinmetz, BSGR and Vale alleging that they had devised a RICO scheme to steal "valuable mining rights" held by Rio ...
But in November 2016, Rio Tinto came under fire for alleged corruption, involving a $10.5 million bribe paid to an aide and close advisor of President Condé [30] to influence him to give the Simandou licence back to Rio Tinto. [31] Rio Tinto admitted making the payment and fired two senior executives. [32] [29] In February 2019, President ...
(Reuters) -Rio Tinto has been holding talks to buy lithium miner Arcadium, three sources with direct knowledge of the negotiations said, a deal that would make Rio the third-largest producer of ...
Rio Tinto Group is a British-Australian multinational company that is the world's second largest metals and mining corporation (behind BHP). [3] It was founded in 1873 when a group of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government.