ASIC alleges Albanese inflated Mozambique asset values

RIO Tinto and two of its top former executives, including former CEO Tom Albanese, had inflated the value of Mozambique coal assets acquired in 2011 for US$3.7 billion, the Australian Securities and Investments Commission is alleging.

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ASIC alleges Albanese inflated Mozambique asset values ASIC alleges Albanese inflated Mozambique asset values ASIC alleges Albanese inflated Mozambique asset values ASIC alleges Albanese inflated Mozambique asset values ASIC alleges Albanese inflated Mozambique asset values

Former Rio Tinto CEO Tom Albanese.

The company sold the troubled hard coking coal assets just three years later for only $50 million.

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