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Rio Tinto loses fight to expand Australian coal mine

  • Rio Tinto (RIO) fails to overturn an Australian court decision blocking a planned A$600M expansion of its Warkworth coal pit, in the latest blow to its mining operations.
  • The expansion has been in limbo since the New South Wales environment Court last year ruled it would threaten endangered ecological areas and adversely affect residents of a nearby town.
  • RIO says the expansion is needed to ensure the operation remains economically viable at a time when prices for thermal coal are at multi-year lows.
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