Allegations related to the company’s efforts to retain valuable mining rights in Guinea in 2011. mining
Rio Tinto held the licence for the entire Simandou deposit since the early 1990s, but was stripped of the northern blocks in 2008 by a Guinean former dictator.
The Securities and Exchange Commission said that about a decade ago, a consultant working for Rio Tinto tried to bribe a Guinean government official. Additionally, the global mining and metals firm didn’t properly record its payments to the person, the SEC said on Monday, adding that the company had inadequate accounting controls.Rio Tinto agreed to the penalty without admitting or denying the violations, according to the SEC.
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