Rio Tinto Loses Legal Fight to extend Australian Coal Mine

Reuters reported today that Rio Tinto (ASX:RIO,NYSE:RIO) lost an appeal to the Australian Supreme Court to expand its Warkworth coal mine in New South Wales, Australia. Managing Director Chris Salisbury told Reuters that Rio Tinto will submit a revised plan for the mine that will include funding for woodland and employment programs and a 1,800 hectare National Park.

As quoted in the publication:

Australia’s Supreme Court on Monday dismissed an appeal by Rio Tinto to overturn an earlier ruling that found projected economic benefits of extending the mine in the small community of Bulga 180 km ( 110 miles) north of Sydney failed to outweigh its environmental impact.

Click here to read the full Reuters article.