RIO - Mining Giant Rio Tinto Caught Into Water Nightmare At Two Mines: Report | Benzinga
Rio Tinto PLC (NYSE:RIO) reportedly faces pressure from socially conscious investors and lenders related to water practices at two of its mines.
Notably, a group representing U.K. pension funds, Local Authority Pension Fund Forum (LAPFF), has raised concerns about Rio’s water management at its Oyu Tolgoi copper mine in Mongolia and an ilmenite mine in Madagascar, reported Reuters.
Such protests are likely to hinder Rio Tinto’s efforts to attain government approval to build a lithium mine in Serbia and dig a giant copper mine in Arizona; local protests have delayed both projects, as per the report.
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