Rio Tinto Divests of Northern Dynasty, Donates Shares

Apr 7, 2014

Company makes charitable donation of its 18+million shares to the Alaska Community Foundation and BBNC's Education Foundation.

Mining giant Rio Tinto announced Monday that it will divest its holdings with Northern Dynasty, which is the sole owner of the Pebble prospect. Rio Tinto owned 19.1 percent of Northern Dynasty’s publicly traded shares, a stake valued between $16-17,000,000, depending on the share's market value. But Rio Tinto is not selling those shares; the company announced it will split them even between two charitable organizations. KDLG’s Dave Bendinger has more: