First BHP Group ended its primary listing in London. Then Glencore said it is studying a move elsewhere. Now, Rio Tinto shareholders will decide whether to step up pressure on the mining giant to junk its decades-old dual listing in London and Sydney.
Thursday’s vote in London at Rio Tinto’s annual shareholder meeting will test support for a change that has been championed by Palliser Capital, an activist investor. Palliser argues the status quo drags on Rio Tinto’s value by restricting the miner’s ability to pursue stock-based deals and fully utilize its Australian tax credits, which the miner denies.