Move by black investors could affect Rio Tinto’s BEE status
Black investors are frustrated by the suspension of dividends, partly due to disruptions caused by the Covid-19 pandemic, and community opposition that stymied expansion plans
14 May 2021 - 18:21
Rio Tinto’s operation in SA is facing the loss of a large bloc of Black investors, a move that would leave it below the legal minimum for black ownership, two people familiar with the situation said.
The main investors in Blue Horison Investments, which holds 24% of Rio-controlled titanium producer Richards Bay Minerals, have told Rio they want to be permitted to to sell a stake they value at R5.5bn or have it bought out by RBM, the people said...
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