Global mining giant Rio Tinto, previously embroiled in controversy for destroying an ancient Indigenous site in Australia in 2020, now encounters fresh scrutiny from investors and lenders regarding its water management practices at two of its mines.
The Local Authority Pension Fund Forum (LAPFF), representing UK pension funds, has expressed concerns about Rio Tinto’s handling of water resources at its Oyu Tolgoi copper mine in Mongolia and an ilmenite mine in Madagascar. CEO Jakob Stausholm, tasked with restoring the company’s social license post the Juukan Gorge incident, faces renewed challenges amidst growing environmental concerns.
The company’s environmental credentials are under question as it seeks government approvals for a lithium mine in Serbia and a copper mine in Arizona, both facing prolonged delays due to local opposition.
Source: Reuters