A Singaporean hedge fund is trying to kick mining giant Rio Tinto right where it hurts – its ESG credentials – to win a decades-long battle over the future of uranium mining in Australia’s uranium-rich Kakadu region.
Right now, there is no uranium future. The one uranium leaseholder in the region, Energy Resources of Australia, is just about broke and is in confidential talks to raise about $1 billion to keep its lights on.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
