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BRIEF-Rio Tinto Says Supports Era's Plans To Raise Funds For Rehabilitation Of Ranger Project Area

Published 15/11/2019, 12:29 pm
BRIEF-Rio Tinto Says Supports Era's Plans To Raise Funds For Rehabilitation Of Ranger Project Area
ERA
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Nov 15 (Reuters) - Rio Tinto (LON:RIO) Ltd :

* SUPPORTS ERA'S PLANS TO RAISE FUNDS FOR REHABILITATION OF RANGER PROJECT AREA

* WILL SUPPORT ENERGY RESOURCES OF AUSTRALIA LIMITED'S (ERA) PLANS FOR A RENOUNCEABLE ENTITLEMENT OFFER TO RAISE $324 MILLION

* AS A 68.4 PER CENT SHAREHOLDER IN ERA, RIO TINTO WILL SUBSCRIBE TO ITS FULL ENTITLEMENT OF ABOUT $221 MILLION

* RIO TINTO WILL SUBSCRIBE TO ITS FULL ENTITLEMENT OF ABOUT $221 MILLION

* HAS ALSO AGREED TO FULLY UNDERWRITE OFFER

* ERA IS REQUIRED TO END MINING AND PROCESSING ACTIVITIES AT RANGER BY JANUARY 2021 AND COMPLETE FINAL REHABILITATION BY JANUARY 2026

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