SFO ponders Rio Tinto quiz after China pleas

By RUPERT STEINER FOR THE DAILY MAIL
Updated: 18:34 EST, 23 March 2010

The Serious Fraud Office is considering launching a probe into the business practices of mining giant Rio Tinto.

Investigators have turned their attention to the Anglo-Australian firm after four of its workers pleaded guilty to accepting bribes in a Chinese court earlier this week.

A source close to the SFO said it is 'reviewing' whether to start an inquiry 'in light of this new information'.

Four Rio Tinto workers pleaded guilty to accepting bribes in a Chinese court

The SFO investigate complex cases that span more than one country.

A full-scale inquiry would be a major embarrassment for the £20bn firm which maintained it is unaware of any wrongdoing by its employees.

On Monday Stern Hu, the head of Rio's iron ore unit in China, admitted receiving £627,000 in bribes along with colleagues Liu Caikui, Ge Minqiang and Wang Yong.

The allegations are connected to negotiations over iron ore prices - China is Rio's biggest customer.

While the court was told yesterday that Rio was unaware of the corruption, the SFO will want to satisfy itself that this is true.