Mozambique: Rio Tinto must face SEC suit over Moz coal assets
Rio Tinto Group must face a US Securities and Exchange Commission (SEC) lawsuit over the company’s valuation of coal assets in Mozambique, a federal judge ruled.
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Mozambique Mining: US SEC charges Rio Tinto and former chiefs with fraud over Moz coal assets
Rio Tinto and its former chief executive and chief financial officer have been charged with fraud by US authorities for allegedly attempting to cover up multi-billion-dollar losses on an African coal investment.
Read MoreMining Industry: International Coal Ventures Acquisition of Rio Tinto´s Mozambique Coal Assets
The Times of India reported that International Coal Ventures (ICVL) has acquired Rio Tinto’s (NYSE:RIO) coal assets in Mozambique. The move represents a major acquisition for the coal sector. As quoted in the publication: IVCL, a joint venture of SAIL, CIL, RINL, NMDC & NTPC, had been scouting for coal assets abroad since its inception in 2009 but had failed to clinch a deal so far. With the new takeover, the steel majors will not run…
Read MoreMozambique Coal Industry: Rio Tinto offloads Mine assets in the country
A group of Indian state-run metal and mining companies is planning to buy three of Rio Tinto’s coal mines in Mozambique for around $US108 million ($114.7m), said people familiar with the negotiations.
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