Mining IQ

$900 million lawsuit filed against Rio Tinto's IOC

By:
Posted: 03/21/2013

On Monday in Montreal two Innu First Nations groups filed a lawsuit against the Iron Ore Company of Canada's (IOC) mining operations in the Canadian provinces of Quebec and Newfoundland and Labrador.

The news comes a few weeks after world No. 2 iron ore producer Rio Tinto said that it was in talks to sell its 58% stake in IOC. The London-based company is hoping that the sale of IOC will raise as much as $2 billion.

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By:
Posted: 03/21/2013