Paul Hissey of RBC says a fraud investigation linked to the Simandou iron ore project in Guinea is unlikely to be much of a financial risk for Rio Tinto. The global miner has advised regulatory agencies in Australia, the US and the UK of its investigation into payments totalling $US10.5m that were made to a consultant to the project in 2011. The investigation has prompted Rio to suspend the head of its energy and minerals business, Alan Davies. Rio’s head of legal and regulatory affairs, Debra Valentine, has resigned.
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