AEMA, coalition launch legal challenge to BLM Conservation and Landscape Health Rule
The American Exploration & Mining Association was joined by a coalition in filing a challenge last Friday in the Wyoming district court.
Rio Tinto (ASX, LON:RIO) launched today a $2.5-billion bond buyback plan with the idea of reducing reduce its gross debt.
In a press release, the global miner explained that, under the plan, it has issued a redemption notice for approximately $1.72 billion of its 2019 and 2020 US dollar-denominated notes and commenced cash tender offers to purchase up to approximately $781 million of its five 2021, 2022 and 2025 US dollar-denominated notes. Such offers will expire on June 20.
The company also said that today’s announcement is part of its ongoing capital management plan and follows the completion of a series of $7.5 billion US dollar-denominated note redemptions and repurchases in 2016.
2 Comments
Good Nelly
Rio Tinto has come up with an attractive, investor-friendly buyback plan to reduce its gross debt. Let’s see what other capital management moves they come up with.
Mike Failla
I wonder how this will affect the resolution mine ongoing into the future? Will it delay shaft construction, mill construction or just push it back further into the future?