Norway’s Ethics Council Airs Concerns With Rio Over Mine (1)

The ethics adviser to Norway’s $1.5 trillion sovereign wealth fund has raised concerns with Rio Tinto Group about the environmental impact of a mine in Brazil, reviving questions about the fund’s future role as an investor in the company.

The ethics adviser to Norges Bank Investment Management has been speaking with Rio — the world’s second-largest miner — about its minority stake in Mineracao Rio do Norte, a bauxite producer in Brazil, according to people familiar with the matter.

The adviser has questioned the mine’s impact on deforestation though no decisions have been made, they said, asking not to be ...