Rio Tinto Probed by SEC Over Mozambique Impairment
December 01 2016 - 3:30AM
Dow Jones News
LONDON—Mining company Rio Tinto PLC on Thursday said it was
under investigation by the U.S. Securities Exchange Commission over
an impairment it booked in 2012 against its operations in
Mozambique.
Rio said it was cooperating with the SEC's probe, which it said
started in 2013, but that it would be "inappropriate to comment
further at this time" because the investigation is ongoing.
The company was responding to media reports earlier this week
that the SEC was examining the timing of $3 billion of impairment
charges it booked on a Mozambique coal deal.
Rio bought Rio Tinto Coal Mozambique in 2011 and sold it in
2014.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 01, 2016 03:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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