Rio Tinto

According to Rio Tinto's Form 20-F filed with the SEC for fiscal year 2021, "The Company notes the following in relation to activities that took place in 2021, or in relation to activities the Company became aware of in 2021 relating to disclosable activities prior to the reporting period. The Company routinely takes action to protect its intellectual property rights in many countries throughout the world, including Iran. In connection with such protection efforts, the Company has used, directly or indirectly, intellectual property firms with an agent or branch office in Iran to assist with the filing of patent and trade-mark applications, prosecution activities and maintenance in Iran. Contact with the firms has been minimal and solely limited to these activities. Certain transactions related to patents, trademarks and copyright are authorised activities under US sanctions and regulations against Iran (including the filing of an application to obtain a patent or trademark in Iran) and the Company believes its limited activities in this regard are consistent with this authorisation."

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According to its Annual Report filed with the SEC for fiscal year 2019: "The Company routinely takes action to protect its intellectual property rights in many countries throughout the world, including Iran. In connection with such protection efforts, the Company has used, directly or indirectly, intellectual property firms with an agent or branch office in Iran to assist with the filing of patent and trade-mark applications, prosecution activities and maintenance in Iran. Contact with the firms has been minimal and solely limited to these activities. Certain transactions related to patents, trademarks and copyright are authorised activities under US sanctions and regulations against Iran (including the filing of an application to obtain a patent or trade-mark in Iran) and the Company believes its limited activities in this regard are consistent with this authorisation."

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"Rio Tinto (an Australian company) acquired its interest in Namibia-based mining company Rössing Uranium Ltd. in 1970. Subsequently, the Iranian Foreign Investments Company (IFIC) acquired a minority shareholding in Rössing in 1975, before the establishment of the Islamic Republic of Iran and the U.S.-imposed sanctions targeting Iran’s nuclear program. IFIC maintains its shareholding under Namibian law. Rio Tinto clarified that Rössing is neither a business partnership nor a joint venture between Rio Tinto and IFIC, and further noted that it “has no power or authority to divest IFIC’s holding in Rössing. However, Rössing and the Namibian Government have taken several recent steps to limit IFIC’s future involvement in Rössing.” For example, between 2010 and 2012, both the Namibian government and the Rössing board took steps to terminate IFIC’s (and by extension, Iran’s) involvement in Rössing, though IFIC will still be entitled to shareholder dividends."

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"Rio Tinto reportedly held talks with the Iranian state-owned Iranian Mines and Mining Industries Development and Renovation Organization (“IMIDRO)” “about new investments in the Middle Eastern nation’s aluminum, steel, copper and gold industries.”  (Mining.com, “Iran says in talks with Rio, Glencore about copper projects,” 6/1/2016).  

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According to an Annual Report filed with the SEC in 2013: "As disclosed by Rio Tinto plc in its annual report on Form 20-F filed with the Securities and Exchange Commission on March 14, 2014 (page 33), Rio Tinto has an interest in the Rössing Uranium Mine located near Arandis in Namibia’s Erongo region and the Iranian Foreign Investments Company (IFIC) is a minority shareholder in Rössing.  Rio Tinto has indicated that it has provided such disclosure to ensure transparency but that it does not view itself as actively transacting or entering into business with an instrumentality of the Government of Iran."

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Rio Tinto has interests in two uranium mines. One of these is Rössing in Namibia, in which it owns a 69 per cent interest. Rössing is one of the largest open pit uranium mines in the world. The mine currently produces about 7.55 per cent of the world's uranium. Rio Tinto states that Rössing operates “uranium under strict safeguard practices where there is never a diversion of nuclear material from commercial nuclear power stations to nuclear weapons.” (Rio Tinto Group, “Uranium”)

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"Rio Tinto Group, the world’s third- largest mining company, said Iran can maintain a 15 percent stake in its Rossing uranium operation after a United Nations ruling barred the country from investing in mines of the fuel... 'It is shameful that Rio Tinto would attempt to defend any business with Iran,' Kimmie Lipscomb, a spokeswoman for New York-based non-profit group United Against Nuclear Iran, said today. 'How can Rio Tinto claim that by conducting business with Iran in a uranium mining venture, it is not contributing to Iran’s ability to develop nuclear weapons?'... Mark D. Wallace, president of UANI and a former U.S. ambassador to the UN, wrote to Rio Chairman Jan du Plessis last week, saying Iran’s stake appeared to be a violation of U.S. law. He requested a response by Nov. 2. 'Profits from the Rossing uranium mine are channeled directly to the Iranian government, emboldening and financially empowering its pursuit of an illegal nuclear weapons program,' Wallace wrote in the letter dated Oct. 21. 'It is time for Rio Tinto and Rossing to recognize this threat as well and follow the lead of other responsible companies and stop putting short- term profits ahead of Iran’s clear threat to global security.'"(Bloomberg, "Rio Tinto Says Iran is Allowed to Keep 15% Stake in Namibian Uraniaum Mine," 10/27/2010)

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Since 1975 under the rule of the Shah, the government of Iran has held a 15 percent share in Rossing. In 2005, according to Graham Davidson, the general manager for operations at Rossing, “Representatives of the government of Iran routinely attend the Rossing board of directors meetings.” Davidson further added that milled uranium oxide (“yellowcake”) for centrifuges is not sold to Iran. The company, however, did not respond to a question of whether Tehran had purchased any Rossing uranium in the past. (Reuters, “Iran Has Stake in Namibia Uranium Mine, Says Owner,” 1/29/05)

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The Namibian government reports that Rossing is under pressure from Western countries to not sell uranium to Iran. Prime Minister Nahas Angula “could not say whether Namibia was supplying Iran with uranium but revealed that government viewed Iran as one of its customers who have contracts to buy uranium mined from the country.” (APA, “Namibia under pressure not to supply uranium to Iran,” 2/3/09)

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Rio Tinto disclosed in its 2008 Annual Report Form that it had “signed a final and binding sale agreement to divest the whole of its [70 percent] interest in the Sari Gunay gold project in western Iran. On the completion of this transaction, which is expected in mid 2008, Rio Tinto intends to close its office in Iran and will cease to have any interests in Iran.” Rio Tinto’s filings make no disclosure on Iran’s interest in the Rössing uranium mine. (Rio Tinto 2008 Annual Report Form)