Rio Tinto Limited
(ASX:RIO) has reportedly told contractors in Qld that it has put its $1.4 billion South of Embley bauxite mine on hold for as long as 18 months.
Media reports say Rio's decision comes in the wake of the state government's decision this past week to ban Cape Alumina's bauxite project in Cape York.
Rio’s mine and port project was approved by the federal government in May.
The prospect of delays to Rio's project could have a further ripple effect, as the project's port was expected to provide access to bauxite leases held by the Queensland government, which may be sold within weeks.
A Rio Tinto Alcan spokesman told media the project team is still working on getting all regulatory approvals.
Rio Tinto delivered a net profit of $1.8 billion in the first half of fiscal 2013.
