Rio Tinto (ASX:RIO) has successfully completed its off-market buy-back.
The mining giant achieved its share purchase target of 41.2 million Rio shares for a total consideration of close to $2.9 billion.
The buy-back price was $69.69 per share which represented a discount of 14 per cent to the market price.
The buy-back is part of a US$3.2 billion share buy-back programme returning the post-tax proceeds from the sale of coal assets in 2018 to Rio shareholders.
Shares in Rio Tinto (ASX:RIO) closed 0.31 per cent lower to $81.23