PERTH (miningweekly.com) – The outgoing chairperson of diversified miner Rio Tinto, Jan du Plessis, has reaffirmed that the company is working with authorities on regulatory investigations relating to its operations in Guinea and Mozambique.
The US Securities Exchange is conducting an investigation relating to the impairment included in the 2012 accounts over the Rio Tinto Coal Mozambique (RTCM) operations. RTCM was acquired in 2011 and sold in 2014.
In Guinea, Rio is being investigated for a $10.5-million payment made to a consultant for the Simandou iron-ore project, which resulted in the miner terminating the contracts of energy and minerals chief Alan Davies and legal and regulatory affairs group executive Debra Valentine.
“The outcome of these regulatory investigations, and any potential litigation, is uncertain and I am sure you will understand there is unfortunately little more I can say at this time,” Du Plessis told the company’s annual general meeting in London.
“However, I want to assure you that the board is giving these matters its full and proper attention. In addition, we have established a dedicated board committee, under my chairmanship, to monitor progress. We are continuing to fully cooperate with the relevant authorities.”
Meanwhile, Du Plessis noted that the hunt for his replacement was ongoing, and a successor would likely be announced before the end of the year.
Du Plessis is expected to join the board of British multinational BT Group as a nonexecutive director on June 1, and as chairperson on November 1.