Markets

Rio Tinto Lobbying To Ensure It Operates Planned Roughrider Uranium Project

Rio Tinto chief executive Tom Albanese said that he would lobby the Canadian government and Saskatchewan provincial government to ensure the Anglo-Australian miner was the operator of the planned Roughrider uranium project in Saskatchewan province, despite legal hurdles, after its successful bid for uranium prospector Hathor (HAT.TO), Reuters reported over the weekend.

It said urrent Canadian law restricts foreign companies to a 49% stake of an operating uranium mine. There have been suggestions Rio Tinto would need to find a domestic partner before it could start up the Roughrider project in Saskatchewan's uranium-rich Athabasca basin, it added.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More