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Rio Tinto (NYSE:RIO) said Tuesday it has taken up its full entitlement in the recent rights issue by Energy Resources of Australia, increasing its stake in the company to more than 98%.

after participating for our full entitlement in the ERA capital raising, underlines our commitment to Ranger’s rehabilitation.” If compulsory acquisition is completed, Rio Tinto has no ...

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Diversified miner Rio Tinto has taken up its full entitlement in the recent rights issue by Energy Resources of Australia (ERA), increasing its shareholding in the company to more than 98%.

Rio Tinto will move to full control of Energy Resources of Australia, taking its full allocation of an entitlement offer which will bring its stake in the Ranger uranium project owner to 98 per cent.

Credit: William Barton/Shutterstock. Mining giant Rio Tinto will take full control of ERA, holding more than 98% of the company’s shares, following ERA’s entitlement offer and shortfall bookbuild. The ...

This move highlights Rio Tinto’s strategic focus on rehabilitation rather than further mining development at the site. For further insights into AU:ERA stock, check out TipRanks’ Stock ...