The global mining giant, Rio Tinto
(ASX:RIO) has been served a complaint by the US Securities and Exchange Commission (SEC) in relation to disclosures and timing of its Mozambique Coal impairment.
The company will vigorously defend itself against the allegations, which are based the Rio not disclosing the value of its South African coal impairment in its 2012 year-end accounts and interim results.
Rio Tinto says the US Securities and Exchange Commission (SEC) claims will be rejected in court and its allegations are not warranted.
It comes as Rio Tinto was hit with a $36.4 million penalty by the UK’s Financial Conduct Authority (FCA) for allegedly breaching an impairment disclosure, over the same period at the same operation.
The Australian Securities and Investments Commission (ASIC) is also reviewing the allegations.
Rio Tinto sold the African asset in 2014.
Shares in Rio Tinto
(ASX:RIO) are trading 0.88 per lower at $70.83.
