Palliser Capital to table motion on Rio Tinto's London listing

More than 100 Rio Tinto shareholders have called for a resolution that could see the miner quit its primary London listing and unify its corporate structure. Palliser's initial proposal to unify Rio Tinto's dual-listed structure garnered widespread support from stakeholders, analysts and investors across Australia and the UK, the hedge fund said. Resolution: Activist investor Palliser Capital and over 100 other shareholders have called for a resolution over an independent review of Rio Tinto's dual-listed model The firm's open letter highlighted several concerns, including the entity's inability to support dividends independently, minimal UK-based employees, and its limited contribution to the group's EBITDA, as well as its significant trading discount compared to the Australian-listed entity, Rio Tinto Limited. The plans follow Rio Tinto's $6.7billion takeover of Arcadium Lithium, which when complete would put Rio on track to become the world's third largest lithium miner behind leader Albemarle and Chile's SQM. Rio Tinto's Argentina project, at the Rincon salt flat, now represents a $2.5billion investment, Stausholm said, including plans to boost total capacity to 60,000 metric tons.