Norway oil fund drops Rio Tinto on green concerns

OSLO – Norway’s sovereign wealth fund has sold its $850-million stake in mining group Rio Tinto, blaming it for environmental damage in Indonesia, the government said yesterday. The finance ministry excluded the company from Norway’s $375-billion fund, selling in the first half of 2008 slightly more than one-half-per-cent stake in Rio Tinto that was worth 4.85 billion crowns ($855.5 million U.S.) at end-2007, officials said. Image source: flickr.com. > Continue.

News selected by Covalence | Country: Global| Company: Rio Tinto | Source: Ottawa Citizen