Beleaguered Ellison faces MinRes shareholders
The board of under-siege Mineral Resources faced grilling in Perth over a governance scandal, amid unexpected expressions of support.
An Australian court overturned approval of a Rio Tinto coal mine extension north of Sydney, possibly affecting sales of the miners’ assets, reports Reuters.
The New South Wales Land and Environment Court reversed an earlier go ahead given by the state and national government owing to environmental and social concerns.
Rio Tinto (ASX, LSE, NYSE: RIO) had planned to extend its operations at Mount Thorley Warkworth mining complex, which is in the Hunter Valley region, from 2020 until 2033.
Last year, its open-cut mine — run by subsidiary Coal & Allied — produced 4 million tonnes of thermal coal and 1.6 million tonnes of semi-soft coking coal.
According to the Sydney Morning Herald, the decision will also affect about 1,300 jobs at the mine as well as numerous mining supply firms.
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Image: SkyTruth, Creative commons licence via Flickr
