Australia watchdog takes Rio Tinto, former executives to court over Mozambique lossesStaff Writer | March 3, 2018
Australia’s corporate watchdog said it has launched court action against global miner Rio Tinto and two former executives for misleading and deceiving investors about the coal reserves it reported in a $4 billion acquisition in Mozambique.
Australia Misleading or deceptive conduct
“ASIC alleges that RTL (Rio Tinto Ltd) engaged in misleading or deceptive conduct by publishing statements in the 2011 annual report, signed by Mr Albanese and Mr Elliott, misrepresenting the reserves and resources of RTCM (Rio Tinto Coal Mozambique),” the commission said in a statement. ■