Rio Tinto Increases Ownership in ERA to Over 98%

Rio Tinto Limited (AU:RIO) has released an update.

Rio Tinto has increased its stake in Energy Resources of Australia (ERA) to over 98% by participating in ERA’s recent A$766.5 million rights issue. The company plans to proceed with the compulsory acquisition of the remaining shares to focus on rehabilitating the Ranger Project Area. This move underscores Rio Tinto’s commitment to environmental rehabilitation, aligning with the standards of the nearby Kakadu National Park.

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