Chanticleer
A Takeovers Panel application before a deal? It’s a jolt for Rio
You can bet Rio Tinto doesn’t like being pushed around by some pipsqueak fund managers, but there’s a lot riding on this bombshell move.
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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