Rio Tinto Boosts Stake in ERA to Over 98%

Rio Tinto (GB:RIO) has released an update.

Rio Tinto has increased its stake in Energy Resources of Australia Ltd (ERA) to over 98% after participating in ERA’s entitlement offer, which raised A$766.5 million for the rehabilitation of the Ranger Project Area. The company plans to acquire the remaining shares at the same offer price, emphasizing its commitment to environmental restoration efforts in line with local Indigenous wishes. This strategic move highlights Rio Tinto’s focus on completing the rehabilitation project successfully.

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