Ex-CFO said Rio Tinto reserve write down would be ‘worse by far than expected’, ASIC claims

Allen & Overy 2018-11-13 11:21 pm By Cat Fredenburgh | Melbourne

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The Australian Securities and Investments Commission claims Rio Tinto’s former CFO was referring to the write down for the reserves for two coal assets that were part of a $4 billion acquisition of Rio Tinto Coal Mozambique when he sent an email to the company CEO in January 2012 that contained the phrase “worse by far than expected”.

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