Rio Tinto PLC Rio Tinto to support ERA's entitlement offer (2439V)
April 04 2023 - 1:00AM
UK Regulatory
TIDMRIO
RNS Number : 2439V
Rio Tinto PLC
04 April 2023
4 April 2023
-------------
Rio Tinto to support ERA's entitlement offer to raise funds for
Ranger rehabilitation
Rio Tinto will support Energy Resources of Australia Ltd's (ERA)
recently disclosed plans for an Interim Entitlement Offer (IEO),
which seeks to raise up to A$369 million to address funding
requirements for the Ranger Rehabilitation Project in Australia's
Northern Territory to the end of Q2 2024.
Rio Tinto, which owns 86.3% of ERA's shares, has pre-committed
to subscribe for its full entitlements under the terms of the IEO,
at a cost of A$319 million.
Rio Tinto Chief Executive, Australia, Kellie Parker said " We
are committed to ensuring the critical rehabilitation of Ranger is
completed to a standard that will establish an environment similar
to the adjacent Kakadu National Park."
Rio Tinto notes that ERA has, in the IEO offer material,
recognised the Mirarr People's opposition to further uranium mining
on their land. This was a relevant factor in Rio Tinto's recent
decision to no longer report the Jabiluka deposit as a mineral
resource. Rio Tinto also recognises that the Mirarr People's
continued involvement in and support of the Ranger Rehabilitation
Project is critical for its timely completion and success.
As announced by ERA today, funds from the IEO are not expected
to generate any financial return and will be dedicated strictly to
the Ranger Rehabilitation Project and repayment of the credit
facility.
Funds raised from this IEO will be partly used to repay a A$100
million credit facility provided by Rio Tinto to assist ERA with
its management of immediate liquidity issues.
Contacts Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Matthew Klar Matt Chambers
M: +44 7796 630 637 M: +61 433 525 739
David Outhwaite Jesse Riseborough
M: +44 7787 597 493 M: +61 436 653 412
Media Relations, Americas Alyesha Anderson
Simon Letendre M: +61 434 868 118
M: +1 514 796 4973
Malika Cherry
M: +1 418 592 7293 Investor Relations, Australia
Tom Gallop
M: +61 439 353 948
Investor Relations, UK
Menno Sanderse Amar Jambaa
M: +44 7825 195 178 M: +61 472 865 948
David Ovington
M: +44 7920 010 978
Clare Peever
M: +44 7788 967 877
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 43, 120 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +61 3 9283 3333
T: +44 20 7781 2000 Registered in Australia
Registered in England ABN 96 004 458 404
No. 719885
This announcement is authorised for release to the market by
Steve Allen, Rio Tinto's Group Company Secretary.
riotinto.com
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