Sewage effects on food sources and diet of benthic foraminifera living in oxic sediment: a microcosm experiment

first_imgA microcosm experiment was conducted to investigate the effects of sewage-derived particulate organic matter (POM) on the food sources and diets of two species of intertidal benthic foraminifera, Ammonia beccarii and Haynesina germanica, using lipid biomarkers to determine trophic relationships. The lipid content of the sediment and associated micro-organisms was a guide to potential food sources while that of the foraminifera was a guide to what they had actually eaten. Six microcosm tanks were established, with constant salinity, temperature and oxygen content, and each with a thin layer of sediment containing living foraminifera. Three microcosms were used as controls and three were treatments to which the POM from secondary treated sewage was added. Each microcosm was treated as a single replicate (to avoid pseudoreplication). The experiment was run for 38 days. The results showed that the food sources (from the sediment) and the diet of the foraminifera did not significantly differ in the controls or the treatments, but quantities of fatty acids decreased in both the sediment system and the foraminifera over the duration of the experiment. It is concluded that sewage-POM (secondary treatment) does not have a direct effect on the food sources of the foraminifera or their diet. The foraminifera did not feed directly on the sewage-derived POM, nor did the addition of sewage stimulate growth of micro-organisms associated with the sediment system. However, recent field data collected by the authors provides evidence that season plays an important role in foraminiferal response to organic pollution (OP), and microcosm sediment might have been unknowingly collected at a time when foraminifera are now known not to respond to OP, i.e. in summer.last_img read more

Northrop Grumman Bags Contract to Upgrade Navigation Radars on Swedish Navy Patrol Boats

first_img View post tag: Northrop View post tag: Grumman May 25, 2011 View post tag: Swedish View post tag: Patrol Back to overview,Home naval-today Northrop Grumman Bags Contract to Upgrade Navigation Radars on Swedish Navy Patrol Boats View post tag: Boats View post tag: navigation Equipment & technology Northrop Grumman Bags Contract to Upgrade Navigation Radars on Swedish Navy Patrol Boats View post tag: Navy Northrop Grumman Corporation’s Sperry Marine business unit has won a contract to upgrade the navigation radars on five Swedish navy patrol boats.Under the contract, Northrop Grumman Sperry Marine will retrofit each ship with two dual-band interswitched chart radar systems with navalized display features. The systems are based on Sperry Marine’s advanced VisionMaster FT™ navigation technology with WideView™ multifunction displays. The initial contract includes five ships with options for six additional ships, plus a spare system, spare parts, service and maintenance. CA Clase Marinelektronik AB, Sperry Marine’s sales and service representative in Sweden, will be responsible for installing, commissioning, testing and technical support for the project.“This important contract win builds on our longstanding relationship as a key supplier to the Swedish navy,” said Hans Rasmussen, director of business development, Northrop Grumman Sperry Marine. “The new radar systems are part of the Swedish navy’s important retrofit program, and will provide enhanced situational awareness for the ships to meet mission requirements.”Built at the Djupvik Shipyard in Sweden, the 23-meter aluminum-hull patrol boats were designed for anti-submarine warfare and maritime control. They also perform reconnaissance above and below the water surface, mine piloting, maritime surveillance, and search and rescue, and can deploy for up to five days.Sperry Marine is a business unit of Northrop Grumman’s Naval and Marine Systems Division. Headquartered in Charlottesville with major engineering and support offices in New Malden, United Kingdom, and Hamburg, Germany, Northrop Grumman Sperry Marine provides smart navigation and ship control solutions for the international marine industry with customer service and support through offices in 16 countries, sales representatives in 47 countries and authorized service depots in more than 250 locations worldwide.Northrop Grumman is a leading global security company providing innovative systems, products and solutions in aerospace, electronics, information systems, and technical services to government and commercial customers worldwide.[mappress]Source: Northrop Grumman, May 25, 2011; View post tag: Naval View post tag: contract View post tag: radars View post tag: News by topic View post tag: Bags View post tag: upgrade Share this articlelast_img read more

Ocean City Honors Education Foundation Founders

first_imgThe Ocean City Board of Education recognized four volunteers who have served as officers of the Ocean City Education foundation since it was founded eight years ago.The board honored Chairman Dave Allegretto, Vice Chairman Mary Beth Snow, Secretary Kim Davidson and Treasurer Tom Aromando.The foundation is an independent nonprofit organization that raises money to enhance educational opportunities for the community and for students inside and outside the classroom.The group provides $12,000 to $20,000 each year in grants to teachers interested in trying new projects in the schools. Among many other initiatives, OCEF provided funding for the new observatory on the grounds of Ocean City High School and sponsored such programs as the anti-addiction presentations by former NBA player Chris Herren.Superintendent Kathleen Taylor thanked the group for their “generosity of time and vision.”Allegretto, in turn, thanked Taylor, the board, fellow OCEF members and his successor as president, Tricia Ciliberto.Aromando will remain on as treasurer.On Wednesday, the school board also recognized three retirees.Irene Bell-Zebley recently retired after a 25-year career in the district, most recently as secretary to the Director of Special Services. Taylor said Bell-Zebley was affectionately known as “Radar,” because “she always knew what you needed before you even needed it.”Taylor also praised the dedication of Ocean City Intermediate School custodians Bernie LeVasseur and Walter Payne.Ocean City Primary School Principal honored the school’s spelling bee runners-up: Brenden Bergman and Michael Welsh. The winner, Bria Condella, will be recognized at a future meeting. Kim Davidson, Mary Beth Snow, Dave Allegretto and Tom Aromando founded the Ocean City Education Foundation and have served as officers for eight years.last_img read more

Rough Seas Stall Beach Project in Ocean City

first_imgThe dredge Illinois takes shelter in the bay behind Longport on Wednesday, Nov. 18. The marine forecast calls for seas of 4 to 7 feet with a southeast wind as strong as 35 mph on Thursday. Swells are expected to subside on Friday as the wind turns from the northwest. The dredge Illinois took shelter Wednesday in the bay behind Longport to avoid rough seas generated by a gusty southeast wind.The dredge is expected to return to work no earlier than Friday, according to Stephen Rochelle, spokesman for the Army Corps of Engineers Philadelphia District.The dredge is in the middle of a $9 million project to pump 700,000 cubic yards of new sand to rebuild eroded beaches from Seaspray Road to 15th Street. The project has reached the area between First Street and Second Street on its way southward to 15th Street.The work started Nov. 2 and is expected to take between 45 and 60 days.last_img read more

A Tribe Called Quest Shares Poignant New Video For “We The People….”

first_img2016 has been a tough year for music fans, but there has been one shining light of late: A Tribe Called Quest’s We got it from Here… Thank You 4 Your Service. (Read the in-depth review here). Despite the untimely death of founding member Phife Dawg, A Tribe Called Quest released their final album last week, days after the Presidential election. The group’s swan song served as both a moving tribute to Phife, who is featured on the record, as well as an eye-opening call to fix social injustices in America.A Tribe Called Quest Are Planning One Final World TourThose two themes are at the forefront of ATCQ’s new video for “We The People….” The song itself deals with hatred towards social groups, and those issues come into the limelight in the newly released video. The clip also serves as a memorial for Phife, who is included by way of an animated graffiti artwork character. The group had artistically portrayed Phife during their recent appearance on Saturday Night Live as well.Watch the new video for “We The People….”, streaming below.last_img read more

Phishin’ With Ryan Dempsey: The Always Sunny Gang Makes Frends At Festival 8

first_imgPhish’s Baker’s Dozen run is quickly approaching. As is tradition for summer tour, there will be an enormous amount of talent surrounding the entertainment with pre- and post-shows galore. Phish’s thirteen nights at Madison Square Garden will be no different, as Live For Live Music plans to take over New York City with over a dozen shows of our own.L4LM’s Official Guide To Phish Baker’s Dozen Late NightsAs the shenanigans approach, we’ll be discussing Phish with a number of artists who will be in town performing some of these late-night shows. So far, we interviewed Craig Brodhead from Turkuaz, Matisyahu, Ryan Jalbert from The Motet, Jake Goldberg and Chris Houser from The Werks, and Brock Butler and Matt McDonald of Perpetual Groove. In the fifth installment of our “Phishin’ With” series, keyboardist Ryan Dempsey discusses his relationship with the band Phish ahead of Twiddle’s three night run at Irving Plaza in NYC (tickets available here).Twiddle Announces Brandon “Taz” Niederauer, Giant Country Horns, And More For NYC RunDempsey was surprised by fellow keys master Page McConnell at Twiddle’s inaugural Tumble Down in August 2016, when the Phish member emerged during the second set, joining Twiddle for a rendition of their original song “When It Rains It Pours.” Reacting to the unexpected sit-in, Dempsey told Live For Live Music: “Phish has been such a huge part of my life both musically and personally over the years. So to not only get to play their music while Page is listening but then to realize he’s about to walk onstage and sit down behind the keys… Yeah. I’m still smiling.” Read our newest interview with Dempsey below, and get excited for Twiddle’s three-night run during the Baker’s Dozen!Live For Live Music: Tell us about your first Phish concert experience.Ryan Dempsey: When they got back together in 2009, we all went together and saw them at Great Woods in Mansfield, MA. I remember being so excited to hear how they would sound after being apart for so long. And even more excited that I was getting to see them again after thinking they were done for good.L4LM: How would you describe the music of Phish?RD: My words will fall short. Never has a band been more inspirational to me personally, to many of my friends, and to bands that I know. Their creativity is unmatched and continues to surprise me.L4LM: How many Phish shows have you seen?RD: I’m not sure of the exact number but definitely over 50.L4LM: Do you have a favorite show, or most memorable experience?RD: One of my favorite moments was at a NYE show at Madison Square Garden during the “silent jam” in Divided Sky. There are not many bands who can make 50,000 people go that crazy over no sounds happening on stage. I remember tears went down my eyes because the energy was so powerful.I also had a great show experience with my fiancé after getting engaged at LOCKN’. Pete Shapiro gifted us Phish Guest passes and we got to view the show from the side stage with Phil Lesh. They played so many songs that are favorites of ours. We also got to meet the guys and they are all just genuinely nice and gracious people.L4LM: What are two of your favorite Phish songs?RD: Reba and FluffheadL4LM: What’s the wildest thing you’ve ever seen at a Phish show?RD: This isn’t wild in the way you’d expect but I ran into the cast of It’s Always Sunny in Philadelphia at Festival 8 and they helped one of my buddies get into his Green Man suit. He didn’t even know it was them until after the fact when he turned around so it was great to see his reaction.If you’re heading to New York for Phish’s 13-night Baker’s Dozen run at Madison Square Garden, don’t miss all the incredible late night shows going on in the City during the run! Check out Our Official Guide To Baker’s Dozen Late-Nights  for all the info.Live For Live Music Phish Baker’s Dozen Run Late-Night ShowsJuly 21 – The Werks @ American Beauty (tix)July 21 – The Motet @ BB King Blues Club (tix)July 20, 21, & 22 – Twiddle @ Irving Plaza (tix) *July 22 – The Werks @ American Beauty (tix)July 22 – Circles Around The Sun @ Gramercy Theatre (SOLD OUT)July 23 – Circles Around The Sun (early brunch show) @ Brooklyn Bowl (tix)July 25 – Turkuaz at Irving Plaza (tix) *July 28 – Dopapod @ Gramercy Theater (tix) *July 28 – James Brown Dance Party  – 2 Shows @ Highline Ballroom (early tix/late tix) *July 29 – Dopapod @ Gramercy Theater (tix) *July 29 – Perpetual Groove @ BB King Blues Club (tix)Aug 2 – Matisyahu @ The Cutting Room (tix) *Aug 3 – Greensky Bluegrass w/ Marco Benevento @ Ford Amphitheatre At Coney Island Boardwalk (tix) **Aug 4 –  “Kraz & Taz” – Eric Krasno Band w/ Brandon “Taz” Niederauer Band @ The Cutting Room (tix)Aug 5 –  Spafford @ BB King Blues Club (SOLD OUT)* (L4LM & CEG Presents)**(L4LM & Live Nation Presents)last_img read more

Harvard’s lucky ’13s

first_imgBy some accounts, 13 is unlucky. But it certainly isn’t for graduates of the Class of 2013: They’re getting degrees from Harvard.It wasn’t unlucky in 1913 either. That year, after all, was the last in a golden age before two world wars.Nor was 1813 an unlucky year. The unfolding War of 1812 left Harvard College nearly unscathed — though deliveries of firewood from Maine and books from England were interrupted.In 1713, Harvard was lucky again. There was money to spare, for once, and increasingly liberal administrators began to cast off sober Puritan rule.Each of these Harvard years embodied moments of dramatic transition. Here’s a glimpse back:1713Seeing Harvard Yard in 1713 would occasion shock. In a former cow yard only 110 feet wide, there were three main buildings, a brewery, privies, a hay field, and a barn. The Yard was nearly treeless, with a single elm next to old Harvard Hall.But in good weather, students found relief from the sun in the former Spencer Orchard, a grove of apple trees where Holden Chapel stands today. (The orchard, which was set aside in 1712 as a “play space” for students, was the first gift to Harvard from alumni.) On either side of the Yard were pens for livestock. Just to the west was the arrow-shaped tip of Cambridge Common. Wolves still roamed there at night.Still roaming at Harvard College were the ghosts of religious restraint. Harvard’s last Puritan president, Increase Mather (1692-1701), sponsored the Yard’s only book burning, defended the Salem witch trials, and sermonized against showy clothing and alcohol use. He imposed a fine of 20 shillings for serving plum cake, a dish he regarded as an intoxicant, at Commencement.Mather’s successor was former judge John Leverett, Harvard’s first secular president. At Leverett’s nonpuritanical inauguration, celebrants ate 146 pounds of meat, put away 19 pies, drank 16 gallons of wine, and used 2 pounds of pipe tobacco.Leverett led Harvard’s transition until his death in 1724. It was a liberalizing era, described by one historian as a time when “the stamp of doubt and inquiry was forever burned into the seal of the books of Veritas.” Leverett broke with a Harvard Commencement tradition of calling graduates “Sons of the Prophets,” preferring instead the appellation “Sons of Harvard.” By 1708, his inaugural year, more than half of Harvard’s 531 graduates since 1642 had become ministers. In the period 1722-1801 — an era propelled by Leverett — only 27 percent of graduates did so.To official keepers of Harvard history, the year 1713 seemed uneventful. It was mentioned a single time in just one of the two pre-eminent 19th-century College histories. Harvard’s Overseers failed to record a single 1713 entry. Corporation records have little to say, beyond setting the price of College cider that year. But the bigger picture, with Leverett as the lens, is dramatic. Harvard staved off ideological attacks from Puritans, increased the endowment, boosted enrollments, and named its first endowed chair.A detail from an 1813 affidavit signed by Harvard President John T. Kirkland and Treasurer John Davis, declaring that the College-owned sloop Harvard is used only for peaceful purposes. Photo by Stephanie Mitchell/Harvard Staff Photographer1813 For Harvard, 1813 was another moment of expansion and transition embodied by another beloved and breakthrough president, John Thornton Kirkland. His time in office (1810-1828) reprised the liberalizing wave of the Leverett era. (One historian called the Kirkland presidency “the time of the giants,” in part because of the students at Harvard then. Ralph Waldo Emerson, for instance, was at Harvard during that time.) It was also a time of literal expansion. Holworthy Hall, the first College residence to include lounging rooms, had just opened the previous fall. The cornerstone for University Hall was laid in 1813, complete with the inscribed silver plate that still lies beneath it.Kirkland had an expansive sense of the student body too. He arranged jobs for impoverished students, improved scholarship opportunities, and encouraged admissions applications from beyond New England. (Harvard saw its first influx of Southerners.) There were also changes to the landscape. The Yard was cleared of its privies, brew house, woodlot, and pigpen, where the noise of periodic slaughters had interrupted recitations. Kirkland planted Harvard’s storied elm trees (most died around 1910) and laid out pathways that are still there.An officer’s belt from the Harvard Washington Corps, a drill unit revived during the War of 1812. Such belts were inscribed and passed from one unit captain to another. Photo by Stephanie Mitchell/Harvard Staff Photographer1913 The Class of 1913 was launched into the world during another period of Harvard expansion, both literal and ideological. Classes were getting bigger. The number of senior pictures in the class album that year was 577, more than any before. The “President’s New House” — now Loeb House — had just opened. Drawings were published of prospective dormitories along the Charles River, the planned Germanic Museum (now the Busch-Reisinger Museum), and Widener Library. Gore Hall, Harvard’s library since 1838, was demolished early in 1913. “Our joy was intense,” the class album enthused, because Gore Hall was said to possess “the hardest seats on earth.”As for liberalizing influences: The class started as freshmen in 1909, the first year for reformist President A. Lawrence Lowell. During his groundbreaking term, which ended in 1933, he established a system of concentrations, opened a Department of University Extension (where half of the first students were women), revolutionized the housing system to blend social classes, and revised entrance requirements to give public school students an equal chance at admission. In 1913, they became the majority of the student body for the first time.There were other signs of reform, including the class’s international flair. Graduates came from Bulgaria, Russia, Turkey, “Turkey-in-Asia,” Switzerland, India, China, and Siam (now Thailand). One Siam graduate likely holds the record for the shortest full name on a Harvard diploma: Aab. In what may be another record, Aram Hovhannes Khachadoorian, from Aintab, Turkey-in-Asia, was 14 years and 17 days old when he graduated. (The oldest College graduate in the class was three weeks shy of 33.) There were also two black graduates in the class. One Siam graduate likely holds the record for the shortest full name on a Harvard diploma: “Aab.” In what may be another record, Aram Hovhannes Khachadoorian, from Aintab, Turkey-in-Asia, was 14 years and 17 days old when he graduated. (The oldest College graduate in the class was three weeks shy of 33.) There were also a black graduate in the class, Theodore Cable of Topeka, who played the violin and was a champion hammer thrower.Much seems foreign today about the Harvard of 1913 — all those undergraduate clubs, for instance. Hasty Pudding, Fly, Owl, and Porcellian are still with us. But long gone are a few others, including Pi Eta, Triangle, and Stylus. Still, much also seems timeless about 1913 too, including the recurrent spooky contemporaneity of faces and certain recurrent sentiments. One senior wrote in the class album, for example, “The outlook for our future is most bright.”If happiness counts, the future was most bright for Talbot Coggeshall Chase (1892-1977). “He majored in having a good time,” said his grandson, Michael Sherman ’72. “He was the most social human being I ever knew.” Chase joined a Boston bond firm, served with the Army in wartime France, and had a career in business. He was a regular at reunions, including the landmark gathering of 1973. “We had fun sharing my first reunion,” said Sherman, “and his 60th.”To show how times change, Chase made a bequeathal in his will that would have set Increase Mather’s wig on fire: an annual Class of 1913 cocktail party.last_img read more

Low-fat or low-carb? It may not matter

first_imgTwo new studies are weighing in on the ongoing debate about whether the best diet is low-fat or low-carbohydrate, but Harvard School of Public Health (HSPH) nutrition expert Frank Hu says that no one diet can claim to be best for everyone.One new study found that a group of low-carb dieters lost about 12 pounds over the course of a year — four more pounds than a group of low-fat dieters. The second study, a review of 48 previous studies, found that both low-fat and low-carb dieters lost an average of 16 pounds more in a year than people not on diets.In a Sept. 2, 2014 USA Today article, Hu, professor of nutrition and epidemiology at HSPH, said, “It’s possible to have a healthy low-fat diet, one rich in fruits, vegetables, nuts, legumes and whole grains, but not loaded with sugar and white bread, and also possible to have a healthy low-carb diet, one not loaded with bacon and sausage. What matters most is that the individual can stick to the diet over the long term.” Read Full Storylast_img read more

Exclusive! Clown Around with the Comedy Kings of Something Rotten!

first_imgThe new musical Something Rotten! is packed with hilarious stars, including four veteran funnymen that have a staggering 38 Broadway credits between them: Brooks Ashmanskas, Peter Bartlett, Gerry Vichi and Brad Oscar. These comedy all-stars have been creating show-stopping, knee-slapping performances for decades, and they’re making ‘em roll in the aisles once again in Something Rotten, a new musical about the very first musical in history. Broadway.com spent the afternoon clowning around at the St. James Theatre with these four Broadway greats! BROOKS ASHMANSKAS(Brother Jeremiah)The secret to great comedy: Accepting that there isn’t one.The funniest person in the cast: It rhymes with “LOOKS TRASHMANSKAS.”The silliest thing I ever did as a kid: Thinking I’d grow up to be attractive.The funniest person in my family: My dad.The most hilarious movie of all time: The Deer Hunter.The funniest part of my Something Rotten! costume: That lightning strikes when I put it on.I will always crack up when I see… A man and a woman together. View Comments GERRY VICHI(Shylock)The secret to great comedy: The secret to great comedy… The secret to great comedy, oh god, the secret to great comedy… the secret is repeating the same words over and over again.The most hilarious movie of all time: Young Frankenstein.The craziest costume I’ve ever worn: I was an egg hanging on a tree in an English chocolate commercial.The funniest person in the cast: Brad Ashmanskas. If there was a war, you’d only need those two guys and the enemy would laugh themselves to death.I always crack up when I see… Two people bump into each other.My comedy hero: Sid Caesar. He was a fantastic mime and completely inventive on his feet.I’ll do anything for a laugh, except… Take my clothes off. That would be the ugliest thing in the world. Something Rotten! Show Closed This production ended its run on Jan. 1, 2017 Related Shows BRAD OSCAR(Nostradamus)The most hilarious movie of all time: Arthur. 1981, not the remake.The craziest costume I’ve ever worn: Baby New Year as the Emcee in Cabaret. Me in a big diaper and baby bonnet? Now that’s comedy…The funniest person in the cast: I regret writing this already, but it’s Brooks.The funniest person in my family: My sister Victoria.The funniest part of my Something Rotten! costume: Me in it, hopefully.My comedy hero: Beatrice ArthurI’ll do anything for a laugh, except… Get naked. PETER BARTLETT(Lord Clapham)The craziest costume I’ve ever worn: That bloody heavy clock as Cogsworth in Beauty and the Beast.The silliest thing I did as a kid: Grew up.The funniest person in the cast: This is a rhetorical question, correct?The funniest part of my Something Rotten! costume: That beautiful purple plume.I will always crack up when… I see or read anything by the glorious Paul Rudnick.Comedy I could sit through over and over: The film of Auntie Mame, my favorite scene being when Mame visits the Upsons in Darien.I’ll do anything for a laugh, except… Self immolate.last_img read more

Execs at Coal Giant Rio Tinto Face Fraud Charges For Overstating Mine’s Worth by Billions

first_img FacebookTwitterLinkedInEmailPrint分享Reuters:The U.S. Securities and Exchange Commission (SEC) on Tuesday charged mining company Rio Tinto Plc (RIO.L) (RIO.AX) and two of its former top executives with fraud, saying they inflated the value of coal assets in Mozambique and concealed critical information while tapping the market for billions of dollars.The U.K.’s Financial Conduct Authority (FCA) also said on Tuesday it had reached a settlement with Rio Tinto under which the company would pay a fine of £27 million ($35.6 million) to settle claims that it breached accounting rules in connection with the Mozambique assets.The Mozambican coal business, which relied on barging the product down the Zambezi River to export via a planned port on the coast, was acquired for $3.7 billion in 2011 from Riversdale Mining and sold a few years later for $50 million.In a lawsuit filed in U.S. federal court in Manhattan, the SEC said Rio Tinto, former Chief Executive Officer Thomas Albanese, and former Chief Financial Officer Guy Elliott failed to follow accounting standards and company policies to accurately value and record the assets.The SEC said that soon after the deal was completed, Rio Tinto learned that the acquisition would yield less coal, and of a lower quality, than expected. The global miner could only transport and sell a fraction of the coal it had originally assumed, the SEC said.By making misleading public statements, Rio Tinto and the executives were able to raise $5.5 billion from U.S. investors, the SEC said. They continued to solicit the investments even after executives of the Mozambique subsidiary told Albanese and Elliott that the unit was likely worth negative $680 million, according to the SEC.CNN Money:One of the world’s biggest mining companies and two of its former top executives are in trouble for allegedly overstating the value of a mine in Africa by billions of dollars.Authorities in the U.S. and the U.K. have accused Rio Tinto (RIO), its former chief executive Tom Albanese and former finance chief Guy Elliott of hiding from shareholders the true value of a coal mine in Mozambique that the company bought for $3.7 billion in 2011.The U.S. Securities and Exchange Commission claims that Rio Tinto realized the mine was worth significantly less within a year of purchasing it, but did not share that information with investors until 2013. In a filing with a district court in New York, the SEC accused the company and the two former senior executives of fraud.The U.K. Financial Conduct Authority said there were indications that the mine should have been revalued when the company was reporting mid-year earnings in 2012, and the failure to do so represented “a serious lack of judgment.”In a statement, Rio Tinto said it would “vigorously defend itself” in the SEC case. It said it had settled separately with the FCA — the U.K.’s financial market regulator — and will pay a fine of about £27 million ($36 million) for failing to carry out an impairment test of the value of the mine.“Rio Tinto believes that the SEC case is unwarranted and that, when all the facts are considered by the court, or if necessary by a jury, the SEC’s claims will be rejected,” it said.“The FCA made no findings of fraud, or of any systemic or widespread failure,” the company added.Rio Tinto agreed to settle at an early stage of the FCA investigation, otherwise it would have been fined $51 million.In its complaint filed Tuesday, the SEC accused Rio Tinto, Albanese and Elliott of trying “to conceal the rapid and dramatic decline in value” of the coal business.The mining giant continued to value the business at more than $3 billion through 2011 and 2012 even after discovering early on that it could sell “only about five percent” of the coal it had originally anticipated, and that the mine had “significantly less and lower quality coal” than it initially assumed, the SEC complaint states.The company ultimately sold the Mozambique mine for just $50 million in 2014.Albanese was removed from the top job at Rio Tinto in 2013 after the company wrote down the value of its assets by $14 billion. He resigned as CEO of another mining giant, Vedanta Resources (VEDL), in August.More: Rio Tinto accused of fraud over ‘$3 billion’ coal mine Execs at Coal Giant Rio Tinto Face Fraud Charges For Overstating Mine’s Worth by Billionslast_img read more