Rio Tinto and some other aluminum companies sue Argentina New Export Tariff

Rio Tinto and Xatrata PLC sued Argentina new export tariff. Argentina announced to cancel to stop the let off of export ore to cut mine company profit and warn foreign invest in its country. This new measure will press mine companies to submit 5%-10% tariff. Rio Tinto spokesman said, Rio Tinto Mineral Argentina has also involved in this sue. “The new policy brings instability to mine industry, we required controlled and predictable law and financial condition.” Spokesman of Xstrata PLC—Claire Divver said, “we still hope to carry this problem out through negotiate with government, we respect the new law. However, we still have to protect our short profit. So we come to the law to protect our profit.”