MELBOURNE, Australia, November 19, 2024--(BUSINESS WIRE)--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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20241119836361/en/

Contacts

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

Media Relations, United Kingdom
David Outhwaite
M

+44 7787 597 493

Media Relations, Australia
Matt Chambers
M

+61 433 525 739
Michelle Lee
M
+61 458 609 322
Rachel Pupazzoni
M
+61 438 875 469

Media Relations, Canada
Simon Letendre
M

+1 514 796 4973
Malika Cherry
M
+1 418 592 7293
Vanessa Damha
M
+1 514 715 2152

Media Relations, US
Jesse Riseborough
M
+1 202 394 9480

Investor Relations, United Kingdom
David Ovington
M

+44 7920 010 978
Laura Brooks
M
+44 7826 942 797
Wei Wei Hu
M
+44 7825 907 230

Investor Relations, Australia
Tom Gallop
M

+61 439 353 948
Amar Jambaa
M
+61 472 865 948

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 43, 120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: ERA