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

Allen & Overy 2022-02-11 11:37 pm By Cat Fredenburgh | Melbourne

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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.

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