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ARTICLE · 04 AUGUST 2017

Red Notice Newsletter - July 2017

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On July 24, 2017, the United Kingdom's Serious Fraud Office announced that it had opened an investigation into the mining giant Rio Tinto PLC after the company allegedly made payments to a contractor in Guinea ...

GlobalInternational Law
Paul W. Butler
Paul W. Butler
Christian Davis
Christian Davis
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ANTICORRUPTION DEVELOPMENTS

U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations

On July 24, 2017, the United Kingdom's Serious Fraud Office (SFO) announced that it had opened an investigation into the mining giant Rio Tinto PLC after the company allegedly made payments to a contractor in Guinea to secure mining rights to Guinea's valuable iron ore reserves in the Simandou region. In November 2016, Rio Tinto had notified authorities in the United Kingdom, the United States, and Australia about its concerns over $10.5 million in payments made in connection with the iron ore deposits. 

For more information, see the FCPA Blog's coverage here, Bloomberg's coverage here and The Wall Street Journal's coverage here. The SFO news release is available here.

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