News Wrap

IN News Wrap: ASIC says all options to pursue Rio open; Supreme Court order leaves Rinehart in the dark over litigation; and Rio sees 400Mt potential from Aussie iron ore mines.

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ASIC says all options to pursue Rio open

The corporate regulator has left open the possibility it might pursue criminal charges against Rio Tinto and some of its executives over its tardy US$3 billion writedown of a coal project in Mozambique, The Australian reports.

Appearing before a Senate committee yesterday, Australian Securities and Investments Commission commissioner John Price said he wanted to stress that all options remained on the table and defended the regulator against charges it was slow to take action.

Last week, the US Securites and Investment Commission launched civil action against Rio, former CEO Tom Albanese and former finance chief Guy Elliott, alleging fraud over the disastrous Mozambique play.

Supreme Court order leaves ...