Dodgy rio tint :-)))29 Jul 2020 10:41
Rio Tinto is in discussions with the UK’s Serious Fraud Office (SFO) about a possible deal under which the miner would avoid prosecution on bribery allegations over dealings for the giant Simandou iron mine in Guinea, the Financial Times reported.
At two billion tonnes of iron ore with some of the highest grades in the industry, Simandou is one of the world’s biggest and richest reserves of the steelmaking material, but it has a controversial past.
The Office is reportedly seeking a deferred prosecution agreement (DPA) over a payment Rio Tinto made that came under scrutiny in 2016. The world’s no. 2 miner fired two senior managers over a questionable $10.5 million payment made to a consultant who helped the company secure the two blocks and alerted authorities, including the US Department of Justice and the UK’s Serious Fraud Office.