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Water Pollution, Job Creation Concerns at DEQ Mill Hearing

  • Friday, 06 March 2009 19:12
  • Written by Gabriel Caplett

Humboldt, Michigan - While a blizzard raged in the eastern part of the county, about 100 citizens attended a Michigan Department of Environmental Quality (DEQ) hearing on a mining application for Kennecott-Rio Tinto's proposed Humboldt Mill project. Comments were starkly divided between those citing perceived job creation as motivation for their support of the project and those concerned about the proposed Eagle Project and potential for water pollution and fugitive dust problems at the site.

The meeting contrasted sharply with hearings held on Rio Tinto’s proposed Eagle Project mine from 2006 to 2007. More than 400 attended one Eagle hearing, with over ninety-percent speaking in opposition to the project.

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Eagle Project "Deferred"; Kennecott Copper Now a Rio Tinto and China Joint-Venture

  • Thursday, 12 February 2009 15:34
  • Written by Gabriel Caplett

Marquette County, Michigan - In the same week both the United Nations (UN) and human rights advocates criticized China for violations involving systemic torture and suppression of journalists, Rio Tinto has indicated a desire for an expanded relationship with the country.  The US $19.5 billion asset and convertible bond sale to the China-owned Chinalco has already drawn the ire of many major investors, as well as the Australian government and recently resigned board member, Jim Leng.

 The deal gives Chinalco, already Rio's largest shareholder, a nearly 20% stake in the company and up to two non-executive board seats.  The deal represents China's largest overseas investment and signifies the government's new role as the most powerful emerging economy in the world.  The deal sent Rio Tinto's European-listed shares plummeting.  The company was the biggest loser of the day with a more than 8% drop in share value.

As part of its announcement, Rio Tinto is also shelving its Eagle Project copper-nickel mine in Michigan's Upper Peninsula.  According to a company release, "The development of the Eagle Nickel mine in Michigan, US [has] been deferred until market conditions recover."

Read more: Eagle Project "Deferred"; Kennecott Copper Now a Rio Tinto and China Joint-Venture

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