|Day's range||62.41 - 63.29|
|52-week range||46.49 - 69.80|
|PE ratio (TTM)||24.68|
|Dividend & yield||N/A (N/A)|
|1y target est||57.74|
Britain's Serious Fraud Office has opened an investigation into mining giant Rio Tinto for "suspected corruption" surrounding the development of the world's biggest untapped iron-ore deposit in Guinea. Rio Tinto reported itself to regulators last November after conducting an internal probe into US$10.5 million in payments made over the project.
Rio Tinto shareholders Thursday overwhelmingly supported the sale of most of the mining giant's Australian coal assets to China-backed Yancoal, paving the way for the completion of the deal. Shareholders for the world's second-largest miner, which is dual-listed in Britain and Australia, voted 97.2 percent in favour of the US$2.45 billion offer at their respective annual general meetings, Rio said in a statement. Shares in Rio were trading 3.28 percent higher at Aus$63.35 late afternoon in Sydney.
Rio Tinto Monday recommended shareholders accept a new improved offer from Yancoal for its Australian coal assets, after the China-backed firm trumped a fresh bid from Swiss commodities giant Glencore. Rio, the world's second-largest miner, said in January it was selling Coal & Allied to Yancoal Australia -- majority-controlled by China's Yanzhou Coal -- for US$2.45 billion. Rio last week said it still favoured Yancoal since the deal was expected to be completed faster due to greater funding and regulatory certainty, leading Glencore to deliver a fresh US$2.675 billion bid over the weekend.