A US court dismissed a Rio Tinto’s lawsuit filed against Vale and BSG Resources, claiming the two companies “conspired to steal” Rio’s rights to explore the world’s largest untapped iron-ore deposit in Guinea, known as the Simandou project.
According to media reports, a court in Manhattan said it took too long for Rio to file the complaint. The Australian miner lost its mining rights in December 2008. District judge Richard Berman said that under a US anti-conspiracy law Rio was supposed to have sued Vale within four years.
Rio Tinto argued the judge’s decision was focused on a narrow point of law, as the official did not rule on the evidence Rio Tinto has been gathering in the case, according to media reports citing the company’s comments about the case.
Rio Tinto is said to be looking at all options and might appeal the decision.
Vale, by the other hand, welcomed Berman’s ruling by saying it was convict that such allegations were groundless.