REG - Rio Tinto - Rio Tinto moves to over 98% ownership of ERA

Rio TintoAnnouncement

19/11/2024 08:00

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RNS Number : 7703M  Rio Tinto PLC  19 November 2024

 

Notice to
ASX/LSE

 

Rio Tinto takes up full entitlements in ERA rights issue, moving to over 98%
ownership

19 November 2024

 

Rio Tinto notes the announcement today by Energy Resources of Australia Ltd
(ERA) in relation to the conclusion of its entitlement offer and shortfall
bookbuild, which raised A$766.5 million (before costs) to fund planned
rehabilitation activities of the Ranger Project Area.

 

As a result of Rio Tinto taking up its pro rata entitlements in the
entitlement offer and the level of participation by other ERA shareholders,
Rio Tinto will hold over 98% of ERA's shares.

 

In accordance with Rio Tinto's previously stated intentions published in ERA's
entitlement offer information booklet, Rio Tinto intends to proceed under Part
6A.2 of the Corporations Act 2001 (Cth) with the compulsory acquisition of all
remaining ERA shares that it does not currently own. It is proposing to do so
at A$0.002 per ERA share, being the same price as the entitlement offer.

 

Rio Tinto Chief Executive, Australia, Kellie Parker said: "We remain committed
to the successful rehabilitation of the Ranger Project Area to a standard that
will establish an environment similar to the adjacent Kakadu National Park, a
World Heritage site.  Our utmost priority and commitment is to complete this
important rehabilitation project in a way that is consistent with the wishes
of the Mirarr People.

 

"Proceeding with compulsory acquisition, after participating for our full
entitlement in the ERA capital raising, underlines our commitment to Ranger's
rehabilitation."

 

If compulsory acquisition is completed, Rio Tinto has no intention to invest
in mining or development of the Jabiluka deposit.

 
 
 
 
 

 
Contacts

Please direct all enquiries to media.enquiries@riotinto.com

 

 

 

 Media Relations,        Media Relations,               Media Relations,
 United Kingdom          Australia                      Canada

 
 
 

 David Outhwaite         Matt Chambers                  Simon Letendre

 M +44 7787 597 493      M +61 433 525 739              M +1 514 796 4973

                         Michelle Lee                   Malika Cherry

                         M +61 458 609 322              M +1 418 592 7293

                         Rachel Pupazzoni               Vanessa Damha

                         M +61 438 875 469              M +1 514 715 2152

Media Relations,
                                                        US

 

                                                        Jesse Riseborough

                                                        M +1 202 394 9480

 Investor Relations,     Investor Relations,
 United Kingdom          Australia

 
 

 David Ovington          Tom Gallop

 M +44 7920 010 978      M +61 439 353 948

 Laura Brooks            Amar Jambaa

 M +44 7826 942 797      M +61 472 865 948

 Wei Wei Hu

 M +44 7825 907 230

 Rio Tinto plc           Rio Tinto Limited

 
 

 6 St James's Square     Level 43, 120 Collins Street

 London SW1Y 4AD         Melbourne 3000

 United Kingdom          Australia

 T +44 20 7781 2000      T +61 3 9283 3333

 Registered in England   Registered in Australia

 No. 719885              ABN 96 004 458 404

This announcement is authorised for release to the market by Andy Hodges, Rio
Tinto's Group Company Secretary.

 

 

 

riotinto.com

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