The call for Rio Tinto Group to abandon its primary London listing doesn’t make economic sense, Chief Executive Jakob Stausholm said after an activist shareholder urged the miner to relocate to Australia.

Activist investor Palliser Capital demanded Rio Tinto scrap its primary listing in London and unify its corporate structure in Australia, saying about $50 billion in shareholder value has already been lost due to the dual listing.

In a stock market announcement, Rio Tinto said it was on track to produce significantly more copper next year as part of its latest production forecasts.

Activist investor Palliser Capital said Wednesday it wants Rio Tinto (NYSE:RIO) to scrap its primary London listing and unify its corporate structure in Australia. In a letter to Rio's (RIO) board, the U.

Activist investor Palliser Capital on Wednesday demanded Rio Tinto scrap its London listing and unify its corporate structure in Australia, saying that shareholders have already lost an estimated $50 billion in value due to the dual structure.