Rio Tinto Avoids Liability in Suit Over Mozambique Coal Mines

An investor’s appeal of a ruling in a class action against Rio Tinto PLC, a global mining company, was dismissed by the Second Circuit Tuesday because it was untimely.

Plaintiff Anton Colbert sued Rio Tinto and two former executives, Thomas Albanese and Guy Elliott, for allegedly covering up losses associated with a failed coal-mining investment in Mozambique.

The district court dismissed the entire suit and denied Colbert’s motion for reconsideration, but the US Court of Appeals for the Second Circuit remanded with instructions for the lower court to revisit the reconsideration order. The district court, on remand, ruled that ...