Global miner Rio Tinto
(ASX:RIO) have released information about a $4.41 billion buy back.
Proceeds of its coking coal divestment proceeds will be used to fund the buyback.
Shareholder approval was obtained on the 2 May this year.
The record date for participation in the offer is 26 September 2018.
(Last day shares can be acquired on the ASX to be eligible to participate, 24 September 2018).
Rio announced the sale of its stakes in the Hail Creek, Valeria, Winchester South and Kestrel coking coal assets in March.
Shares in Rio Tinto
(ASX:RIO) are trading 2.69 per cent higher at $77.43.
