Rio Tinto gifts Northern Dynasty stake to charity, exits Pebble project


Rio Tinto (RIO +0.2%) says it will gift its 19.1% stake in Northern Dynasty Mining (NAK -3.5%), which owns the Pebble mine in Alaska, to two Alaskan charities.

RIO says it started a strategic review of its stake in NAK last year and has determined the Pebble project, a proposed open-pit copper and gold mine, doesn’t fit with its strategy.

NAK’s ~$5B project has faced numerous hurdles, most recently in February when the EPA said the project poses a serious risk to the salmon fisheries and native tribes in the area.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs