Rio Tinto (ASX:RIO) receives $750,000 fine

Company News

by Lauren Evans March 07, 2022 02:34 PM

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.

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