Business Services Industry
Rio Tinto Buys Palabora Shares
Business Wire, June 11, 1998
LONDON--(BUSINESS WIRE)--June 11, 1998--RIO Tinto plc (NYSE:RTP) announced today that it has agreed to purchase an additional 2,131,480 shares for cash in Palabora Mining Company Ltd. in South Africa at a price of R29 (approximately US$5.63) per share. The shares acquired will represent an additional 7.5% interest in Palabora, taking Rio Tinto's beneficial interest from 38.9% to 46.4%.
For further information, please contact:
CONTACT: RIO TINTO
Peter Darling, Media Relations
011-44-171-753-2355
Gavin Anderson & Company
Jason Kendy
212-373-0200
COPYRIGHT 1998 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning
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