Rio Tinto to cop penalty in ASIC case over failed $5.8B acquisition

Energy & Natural Resources 2022-02-11 11:37 pm By Cat Fredenburgh | Melbourne

Rio Tinto will face a penalty in proceedings brought by the Australian Securities and Investments Commission alleging the mining giant misled shareholders about the resources of a Mozambique mining company it acquired for $5.8 billion in 2011 and later offloaded for $70 million.