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Rio Tinto: the world's worst company?
Rio Tinto directors evaded questions over whether they would take responsibility for the legacy of environmental problems at the Panguna mine on Bougainville Island, and failed to make any clear commitments that they would engage the Indigenous traditional landowners before continuing discussions over resumption of the operations. While they said they had “no plans’ to reopen the mine, they did admit that discussion where taking place amongst some stakeholders.
The issue is highly charged, given the tens of thousands of lives lost when the environmental problems caused by riverine waste dumping and the exclusion of traditional landowners concerns shut down the mine and lead to a civil war. There remains significant sentiments on the island that the project should never be reopened, and legitimate concerns that failing to respond to community sensitivities could be a recipe for disaster.
Rio Tinto, Alcoa Score Worst in WWF Carbon Report (Update2)
By Angela Macdonald-Smith
Sept. 4 (Bloomberg) -- Rio Tinto Group, the world's third- largest mining company, and Alcoa Inc. are among power producers in Australia least prepared for a low-carbon future, a report by conservation group WWF shows.
One of Rio Tinto’s largest shareholders has sold its £500 million stake in the company over concerns about the Grasberg goldmine, which has been called one of the world’s worst eyesores.
Norwegian wealth fund sells stake in Rio Tinto
Posted by omar123 on September 15, 2008
The $375 billion (£213 billion) Norwegian sovereign wealth fund said on Tuesday that it had sold its shares after failing to persuade Rio to improve operations at the West Papua mine.
Kristin Halvorsen, the Norwegian Finance Minister, said: “There are no indications to the effect that the company’s practices will be changed in future. The fund cannot hold ownership interests in such a company.”
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