Rio Tinto’s Du Plessis says regulatory probes receiving full board attention
PERTH (miningweekly.com) – The outgoing chairperson of diversified miner Rio Tinto, Jan du Plessis, has reaffirmed that the company is working with authorities on regulatory investigations relating to its operations in Guinea and Mozambique.
The US Securities Exchange is conducting an investigation relating to the impairment included in the 2012 accounts over the Rio Tinto Coal Mozambique (RTCM) operations. RTCM was acquired in 2011 and sold in 2014.
In Guinea, Rio is being investigated for a $10.5-million payment made to a consultant for the Simandou iron-ore project, which resulted in the miner terminating the contracts of energy and minerals chief Alan Davies and legal and regulatory affairs group executive Debra Valentine.
“The outcome of these regulatory investigations, and any potential litigation, is uncertain and I am sure you will understand there is unfortunately little more I can say at this time,” Du Plessis told the company’s annual general meeting in London.
“However, I want to assure you that the board is giving these matters its full and proper attention. In addition, we have established a dedicated board committee, under my chairmanship, to monitor progress. We are continuing to fully cooperate with the relevant authorities.”
Meanwhile, Du Plessis noted that the hunt for his replacement was ongoing, and a successor would likely be announced before the end of the year.
Du Plessis is expected to join the board of British multinational BT Group as a nonexecutive director on June 1, and as chairperson on November 1.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
