Rio faces new ASIC claims over Riversdale

Original article by Matt Chambers
The Australian – Page: 22 : 2-May-18

A Rio Tinto spokesman says the mining giant will "vigorously" contest the latest allegations regarding a writedown of its coking coal assets in Mozambique. The Australian Securities & Investments Commission has alleged that a delay in writing down the value of the assets constituted misleading and deceptive conduct. Rio Tinto, former CEO Tom Albanese and ex-CFO Guy Elliott were already facing allegations that they had not informed shareholders of a significant downgrade in the resource estimate for the Mozambique assets.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RIVERSDALE MINING LIMITED, FEDERAL COURT OF AUSTRALIA, UNITED STATES. SECURITIES AND EXCHANGE COMMISSION, MINERALS COUNCIL OF AUSTRALIA, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, BHP BILLITON LIMITED – ASX BHP, THE AUSTRALIA INSTITUTE LIMITED

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