The Federal Court has fined Rio Tinto
(ASX:RIO) $750,000 after it found the miner breached its continuous disclosure obligations.
Rio Tinto reached a settlement with the Australian Securities and Investment Commission, regarding the impairment of Rio Tinto Coal Mozambique (RTCM), which was reflected in the company's 2012 year-end accounts. RTCM was acquired in 2011 and divested in 2014.
Rio Tinto said the case against Tom Albanese and Guy Elliott has been dismissed.
Shares in Rio Tinto
(ASX:RIO) are trading 0.4 per cent lower at $126.09.
