Rio Tinto PLC has announced the settlement of an agreement with the Australian Securities and Investments Commission (ASIC) regarding the timing of a 2013 impairment disclosure against Mozambique coal assets it previously owned. The mining company has stated intentions to remunerate $553,000 for contravening its continuous disclosure obligations between 21 December 2012 and 17 January 2013. This follows after the company announced an estimated $3 billion impairment against the value of the Mozambique business. The company has stated that no findings of fraud of any systemic or widespread failure by Rio Tinto had been found during the court-approved settlement between ASIC and Rio Tinto.
www.willshir.com – 2022©️Willshir & Associates – Business Intelligence Program