Rio Tinto Ltd will sever mining links with resource-rich Papua New Guinea, relinquishing ownership of the Panguna copper mine on Bougainville island which has been closed for around 25 years after a secessionist rebellion.
The global miner said on Thursday that it would transfer its majority shareholding of 53.8 percent in Bougainville Copper to an independent trustee to manage the distribution of the shares to the Autonomous Bougainville Government and Papua New Guinea.
