Norway’s $1.5tr fund raises concerns with Rio Tinto over mine in Brazil

The ethics adviser to Norway’s $1.5-trillion sovereign wealth fund has raised concerns with Rio Tinto Group about the environmental impact of a mine in Brazil, reviving questions about the fund’s future role as an investor in the company.

The ethics adviser to Norges Bank Investment Management has been speaking with Rio — the world’s second-largest miner — about its minority stake in Mineracao Rio do Norte, a bauxite producer in Brazil, according to people familiar with the matter.