1
Everything Mining Industry Country Focus How to Guide
 
Intelligence on industry and mining
 
 
Back

Moz coal assets come back to haunt former Rio Tinto CEO, CFO

By:  
Creamer Media Senior Deputy Editor: Australasia
 
FRAUD CHARGES
The US Securities and Exchange Commission (SEC) has laid charges of fraud against diversified miner Rio Tinto and its former CEO Tom Albanese and CFO Guy Elliott. The SEC in a statement this week said that the company and the former two executives had inflated the value of Mozambique coal assets, which were initially acquired for $3.7-billion in 2011, and then divested for A$50-million.
 
 
 
 
 

Latest content...

Register for daily alerts on news as it breaks in various key economic sectors - Click here to register