22
Nov
19:27
Rio Tinto to pay $28m in SEC settlement
Rio Tinto has reached a settlement with the US Securities and Exchange Commission (SEC), agreeing to pay $28 million to resolve a fraud case relating to the company's Mozambique coal assets.
The commission argues that the company's leadership artificially inflated the value of its Mozambique operation, which was acquired by Rio Tinto in 2011, but then subsequently divested by the company just three years later.
Rio Tinto had acquired the Mozambique operat…
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