Australia's corporate watchdog has commenced legal proceedings against Rio Tinto and two former executives over its disastrous $US4 billion foray into Mozambique coal, 17 months after regulators in the UK and US took action on the same matter.
Rio Tinto has sold its Rio Tinto Coal Mozambique subsidiary, including the major assets acquired in its $3.9 billion purchase of Riversdale Mining in 2011, for just $US50 million.
Patersons Securities has retained top spot in WA Business News' annual survey of capital raisings, followed by Hartleys, Euroz Securities and Macquarie Capital Advisers.
Mining giant Rio Tinto has secured the backing of a majority of Riversdale Mining's directors for a takeover offer that values the Africa-focused coal miner at $3.9 billion.
Como-based Aquila Resources Ltd will sell its Mozambique coal exploration tenements to Sydney-based Riversdale Mining Ltd in a cash and scrip deal worth around $60 million.
Is currently in negotiations with two independent private companies in respect of the acquisition of a 100% interest in tenements in a coal province in Southern Africa