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Share Name Share Symbol Market Type Share ISIN Share Description
Rio Tinto Plc LSE:RIO London Ordinary Share GB0007188757 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -36.00p -0.75% 4,770.00p 4,774.00p 4,775.00p 4,830.00p 4,739.50p 4,799.50p 3,149,894 16:35:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 31,775.7 14,245.8 622.0 7.6 62,223.94

Government of Guinea Raises Concerns Over Rio Tinto Consultant Payment

18/11/2016 1:19am

Dow Jones News


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   By Rhiannon Hoyle 
 

SYDNEY--Guinea's mining minister raised concerns over a Rio Tinto PLC (RIO.LN) probe into payments linked to the massive Simandou iron-ore deposits in the African nation.

The Anglo-Australian miner has fired two executives and notified authorities in the U.S., U.K. and Australia over emails that discuss payments in 2011 to a consultant, Francois de Combret, a former Lazard Freres managing director who was close to senior government officials in Guinea.

"Mr. de Combret was at the time acting in a capacity that would have given him access to highly confidential information," Guinea's Minister of Mines and Geology Abdoulaye Magassouba said in an emailed statement. "It raises both legal and ethical concerns if, as media reports suggest, Mr. de Combret was passing on privileged information in return for large amounts of money."

Mr. de Combret hasn't been able to be reached for comment.

Mr. Magassouba said the government "is demanding a full account from Rio Tinto."

A spokesman for Rio Tinto declined to comment.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

November 17, 2016 20:04 ET (01:04 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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