Activist investor Palliser Capital is stepping up a campaign to push Rio Tinto to leave the London market, urging the miner to allow Australian shareholders to vote on a resolution that calls for an independent review into its dual-listing status.

Rio Tinto Group has rebuked a call from activist investor Palliser Capital UK Ltd. to unify its dual listing into an Australian-domiciled holding company, saying tax costs would amount to billions and there was nothing to gain.

London-based hedge fund Palliser Capital on Monday urged Rio Tinto , to allow the company's Australian shareholders to vote on a resolution that seeks an independent review of its dual-listing status.