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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rio Tinto Plc | LSE:0KWZ | London | Ordinary Share | RIO TINTO ADR REPTG ONE ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 59.16 | 500 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Miscellaneous Metal Ores,nec | 54.86B | 10.06B | 8.0090 | 6.29 | 74.3B |
TIDMRIO
RNS Number : 2439V
Rio Tinto PLC
04 April 2023
4 April 2023 -------------
Rio Tinto to support ERA's entitlement offer to raise funds for Ranger rehabilitation
Rio Tinto will support Energy Resources of Australia Ltd's (ERA) recently disclosed plans for an Interim Entitlement Offer (IEO), which seeks to raise up to A$369 million to address funding requirements for the Ranger Rehabilitation Project in Australia's Northern Territory to the end of Q2 2024.
Rio Tinto, which owns 86.3% of ERA's shares, has pre-committed to subscribe for its full entitlements under the terms of the IEO, at a cost of A$319 million.
Rio Tinto Chief Executive, Australia, Kellie Parker said " We are committed to ensuring the critical rehabilitation of Ranger is completed to a standard that will establish an environment similar to the adjacent Kakadu National Park."
Rio Tinto notes that ERA has, in the IEO offer material, recognised the Mirarr People's opposition to further uranium mining on their land. This was a relevant factor in Rio Tinto's recent decision to no longer report the Jabiluka deposit as a mineral resource. Rio Tinto also recognises that the Mirarr People's continued involvement in and support of the Ranger Rehabilitation Project is critical for its timely completion and success.
As announced by ERA today, funds from the IEO are not expected to generate any financial return and will be dedicated strictly to the Ranger Rehabilitation Project and repayment of the credit facility.
Funds raised from this IEO will be partly used to repay a A$100 million credit facility provided by Rio Tinto to assist ERA with its management of immediate liquidity issues.
Contacts Please direct all enquiries to media.enquiries@riotinto.com Media Relations, UK Media Relations, Australia Matthew Klar Matt Chambers M: +44 7796 630 637 M: +61 433 525 739 David Outhwaite Jesse Riseborough M: +44 7787 597 493 M: +61 436 653 412 Media Relations, Americas Alyesha Anderson Simon Letendre M: +61 434 868 118 M: +1 514 796 4973 Malika Cherry M: +1 418 592 7293 Investor Relations, Australia Tom Gallop M: +61 439 353 948 Investor Relations, UK Menno Sanderse Amar Jambaa M: +44 7825 195 178 M: +61 472 865 948 David Ovington M: +44 7920 010 978 Clare Peever M: +44 7788 967 877 Rio Tinto plc Rio Tinto Limited 6 St James's Square Level 43, 120 Collins Street London SW1Y 4AD Melbourne 3000 United Kingdom Australia T +61 3 9283 3333 T: +44 20 7781 2000 Registered in Australia Registered in England ABN 96 004 458 404 No. 719885
This announcement is authorised for release to the market by Steve Allen, Rio Tinto's Group Company Secretary.
riotinto.com
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April 04, 2023 02:00 ET (06:00 GMT)
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