Rio tinto to support era's entitlement offer to raise funds for ranger rehabilitation

Melbourne, australia--(business wire)--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.
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