REG - Rio Tinto - Rio Tinto to support ERA’s entitlement offer

Rio TintoAnnouncement

04/04/2023 07:00

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RNS Number : 2439V  Rio Tinto PLC  04 April 2023

 4 April 2023

 

Rio Tinto to support ERA's entitlement offer to raise funds for Ranger
rehabilitation

Rio Tinto will support Energy Resources of Australia Ltd's (ERA) recently
disclosed plans for an Interim Entitlement Offer (IEO), which seeks to raise
up to A$369 million to address funding requirements for the Ranger
Rehabilitation Project in Australia's Northern Territory to the end of Q2
2024.

 

Rio Tinto, which owns 86.3% of ERA's shares, has pre-committed to subscribe
for its full entitlements under the terms of the IEO, at a cost of A$319
million.

 

Rio Tinto Chief Executive, Australia, Kellie Parker said "We are committed to
ensuring the critical rehabilitation of Ranger is completed to a standard that
will establish an environment similar to the adjacent Kakadu National Park."

 

Rio Tinto notes that ERA has, in the IEO offer material, recognised the Mirarr
People's opposition to further uranium mining on their land. This was a
relevant factor in Rio Tinto's recent decision to no longer report the
Jabiluka deposit as a mineral resource.  Rio Tinto also recognises that the
Mirarr People's continued involvement in and support of the Ranger
Rehabilitation Project is critical for its timely completion and success.

 

As announced by ERA today, funds from the IEO are not expected to generate any
financial return and will be dedicated strictly to the Ranger Rehabilitation
Project and repayment of the credit facility.

 

Funds raised from this IEO will be partly used to repay a A$100 million credit
facility provided by Rio Tinto to assist ERA with its management of immediate
liquidity issues.

 

 

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

 

 Media Relations, UK         Media Relations, Australia

 Matthew Klar                Matt Chambers

 M: +44 7796 630 637         M: +61 433 525 739

 David Outhwaite             Jesse Riseborough

 M: +44 7787 597 493         M: +61 436 653 412

 Media Relations, Americas   Alyesha Anderson

 Simon Letendre              M: +61 434 868 118
 M: +1 514 796 4973

 Malika Cherry

 M: +1 418 592 7293

 Investor Relations, UK

 Menno Sanderse              Investor Relations, Australia

 M: +44 7825 195 178         Tom Gallop

                           M: +61 439 353 948

Amar Jambaa

 David Ovington              M: +61 472 865 948

 M: +44 7920 010 978

 Clare Peever

 M: +44 7788 967 877

 Rio Tinto plc               Rio Tinto Limited

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

London SW1Y 4AD

United Kingdom             Melbourne 3000

 T: +44 20 7781 2000         Australia

Registered in England

 No. 719885

                             T +61 3 9283 3333

                             Registered in Australia

                             ABN 96 004 458 404

 

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

 

riotinto.com

 

 

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