(Updates with further details and context from paragraph 2 onwards)
April 3 (Reuters) - The ethics adviser to Norway's $1.6 trillion sovereign-wealth fund is assessing whether to recommend the investor to divest its multi-billion dollar stake in mining giant Rio Tinto (RIO) for environmental concerns, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The council on ethics has told Rio Tinto in recent months that it is assessing the company for environmental damage from its operations in the Brazilian Amazon, the report said, citing a letter seen by WSJ.
The world's largest sovereign wealth fund, which owns 1.5% of the global listed shares across 8,800 companies looks into investments made by Norges Bank Investment Management, the operator of the fund.
Norges is one of Rio's largest stakeholders and as at Dec.31 owned a 2.24% stake worth $2.7 billion in the global miner.
London-listed shares of Rio fell 0.8% to 5078 pounds. The council's concerns around Rio have generally been focussed on deforestation and the miner's partial ownership of an operation in Northern Brazil called Mineração Rio do Norte, or MRN, in which Rio owns 22%, the report added.
"While the MRN operation is not managed by Rio Tinto, it has been working to progressively improve its environmental and social performance to meet industry best practice and our expectations as a shareholder," a spokesperson for the world's largest miner told Reuters.
- Forums
- ASX - By Stock
- RIO
- News: RIO UPDATE 1-Norway sovereign fund advisor may recommend Rio Tinto stake sale, WSJ reports
News: RIO UPDATE 1-Norway sovereign fund advisor may recommend Rio Tinto stake sale, WSJ reports
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RIO (ASX) to my watchlist
|
|||||
Last
$111.55 |
Change
1.560(1.42%) |
Mkt cap ! $41.40B |
Open | High | Low | Value | Volume |
$110.18 | $112.30 | $110.16 | $202.9M | 1.815M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 952 | $111.55 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$111.57 | 10 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 952 | 111.550 |
1 | 6356 | 111.530 |
1 | 947 | 111.520 |
1 | 6361 | 111.500 |
1 | 1278 | 111.490 |
Price($) | Vol. | No. |
---|---|---|
111.570 | 10 | 1 |
111.720 | 2558 | 3 |
111.760 | 3617 | 3 |
111.790 | 100 | 1 |
111.850 | 3362 | 1 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
RIO (ASX) Chart |
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online