By Reuters Staff
2 Min Read
(Reuters) - A U.S. judge on Wednesday quashed a bid to widen the scope of a civil lawsuit by the U.S. Securities and Exchange Commission that accused miner Rio Tinto of fraud at its Mozambican coal business, a court filing showed.
The Rio Tinto mining company s logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed
The SEC filed a complaint against Rio in 2017 with allegations that it had fraudulently concealed the decline in value of the business.
Rio had acquired Riversdale mining for $3.7 billion in 2011, on the premise it would be able to barge 30 million tonnes of coal per year down the Zambezi river, and rail a further 12-15 million tonnes of coal per year to port.
Cyclist who died after a collision with a van in Desford has been named
Police are appealing for witnesses
Police at the scene of the incident in Desford (Image: Leicester Media Online)
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China South Africa’s largest coal market in February – Goldman Sachs
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JOHANNESBURG (miningweekly.com) – China was South Africa’s largest coal market in February, taking over from India, which has traditionally been South Africa’s largest coal export market.
Normally, China does not import coal from South Africa, but 2021 has seen a shift,
U.S. Secretary of Energy Jennifer Granholm on Tuesday said the United States needs to boost domestic production of the minerals used to make electric vehicles, so long as it is done sustainably.