Rio Tinto: Simandou position

Rio Tinto has received correspondence from the President of Guinea purporting to rescind the Simandou Mining Concession. In conjunction with its partner in the project, International Finance Corporation, Rio Tinto is currently studying the issues raised in the correspondence. Rio Tinto remains confident that its arrangements are in all respects in conformity with Guinean laws and that it has complied with its obligations. Rio Tinto negotiated and executed the Simandou Mining Concession in full transparency with the Guinean government and is currently in discussion with relevant ministers with a view to resolving any issues. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa. ---politics.co.uk