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Rio Tinto considers Alaska mine project divestment

By Associated Press 11:04 AM December 23, 2013

London-based Rio Tinto said Monday the review will consider whether the project fits with the "strategy of investing in and operating long life and expandable assets."

ANCHORAGE  – Rio Tinto plc says it will conduct a review of the Pebble Mine prospect in Alaska, including whether to cut ties with the proposed project.

London-based Rio Tinto said Monday the review will consider whether the project fits with the “strategy of investing in and operating long life and expandable assets.”

The announcement follows a letter Thursday to CEO Sam Walsh from New York City Comptroller John Liu and California State Controller John Chiang. The two, who oversee pension funds that are substantial shareholders in Rio Tinto, warned about risks of being associated with Pebble.

Company spokesman David Outhwaite says the review is not in response to the letter.

The company owns a 19 percent share of Northern Dynasty Minerals Ltd., which recently assumed full ownership of the mine project.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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