Rio to return coal sale proceeds through US$3.2 billion buyback

RIO Tinto has announced a US$3.2 billion share buyback to return its post-tax proceeds from the sale of its Hail Creek, Valeria, Winchester South and Kestrel coal assets to shareholders.

Rio to return coal sale proceeds through US$3.2 billion buyback Rio to return coal sale proceeds through US$3.2 billion buyback Rio to return coal sale proceeds through US$3.2 billion buyback Rio to return coal sale proceeds through US$3.2 billion buyback Rio to return coal sale proceeds through US$3.2 billion buyback

The dual-listed company said the buyback would comprise an off-market tender of up to 41.2 million Rio Tinto Ltd shares and further on-market purchases of Rio Tinto plc shares.