Mining giant Rio Tinto PLC has announced it has scrapped plans for a USD2 billion aluminum smelter project in the Malaysian state of Sarawak. According to Dow Jones Newswires, Rio Tinto decided to scrap the controversial smelter plans as negotiations with Cahya Mata Sarawak, controlled by the family of Sarawak Chief Minister Abdul Taib Mahmud, and the Taib-controlled Sarawak Energy failed to bear fruit.
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