Rio Tinto loses fight to expand Australian coal mine

|About: Rio Tinto plc (RIO)|By:, SA News Editor

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.