Melbourne--(business wire)--rio tinto welcomes energy resources of australia’s (era) announcement today that it will renew its independent board committee to introduce new perspectives to address the material cost and schedule overruns on the critical ranger rehabilitation project in australia’s northern territory. rio tinto chief executive australia kellie parker said “we thank peter mansell, paul dowd and shane charles for their contribution to era and wish them well for the future. “we are committed to working with era to facilitate this board renewal process and urgently develop a workable plan to fund the increased rehabilitation costs. “we restate our belief that the successful rehabilitation of the ranger project area, which is of critical importance to the mirarr people, rio tinto and era, can be achieved in a way that is consistent with the mirarr people’s wishes. this remains our utmost priority and commitment.” rio tinto has finalised work with era to amend an existing a$100 million credit facility to assist era with its management of immediate liquidity issues.
RIO Ratings Summary
RIO Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission