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BRIEF-Rio Tinto updates on investigations regarding contractual payments on Simandou project

Published 09/11/2016, 09:28 am
Updated 09/11/2016, 09:30 am
© Reuters.  BRIEF-Rio Tinto updates on investigations regarding contractual payments on Simandou project
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Nov 9 (Reuters) - Rio Tinto (LON:RIO) Ltd RIO.AX

* Rio Tinto contacts regulatory authorities

* Company launched an investigation into matter led by external counsel

* Notified relevant authorities in United Kingdom and United States and is in process of contacting Australian authorities

* On 29 august 2016, Rio Tinto became aware of email correspondence from 2011 relating to contractual payments totalling us$10.5 million

* Rio tinto intends to co-operate fully with any subsequent inquiries from all of relevant authorities

* Rio tinto-energy & minerals chief executive Alan Davies, who had accountability for simandou project in 2011, has been suspended with immediate effect

* Contractual payments made to a consultant providing advisory services on Simandou Project in guinea.

* Legal & regulatory affairs group executive debra valentine, having previously notified co of her intention to retire on 1 may 2017 stepped down from her role Source text for Eikon: ID:nASXc4X3Cc Further company coverage: RIO.AX

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