Rio Tinto Could Lose Guinea Mining Licence

28 September 2010 (Last Updated September 28th, 2010 18:30)

Rio Tinto may lose its mining licence for the Simandou iron ore project in Guinea if it fails to hand-over documentation for the project, according to Mines and Geology Minister Mahmoud Thiam. The government sent a letter to the company asking for documentation but has yet to receive any

Rio Tinto may lose its mining licence for the Simandou iron ore project in Guinea if it fails to hand-over documentation for the project, according to Mines and Geology Minister Mahmoud Thiam.

The government sent a letter to the company asking for documentation but has yet to receive any feedback, Thiam said in a statement to Bloomberg.

Last month, Rio Tinto approved an extra $170m for infrastructure to speed up development of the Simandou iron ore project.

Rio Tinto sold a $1.35bn stake in the $9.5bn project to Aluminum Corp of China in July.