Rio Tinto may exit Bouganville

Bouganville Copper, which Rio owns more than 53 per of, was stripped of exploration and mining licences last week under new mining laws that sought to give the government more control over the mine.

Rio Tinto will consider divesting its majority stake in the Bouganville Copper project, after the local government imposed tough new conditions on the project last week.

Bouganville Copper, which Rio owns more than 53 per of, was stripped of exploration and mining licences last week under new mining laws.

Rio has responded today by declaring the project to be under review. ”Rio Tinto has decided now is an appropriate time to review all options for its 53. 83 per cent stake in Bougainville Copper Limited (BCL),” the company said in a statement.

Read more here: SMH

    

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