Rio, ex-CEO face fraud charges on USD 3.7 billion coal calamity

Rio Tinto along with two former CEOs have been charged with fraud connected to a failed coal investment worth billions in Mozambique.
Photo: PR-foto/Rio Tinto
Photo: PR-foto/Rio Tinto
BY DAVID STRINGER, BLOOMBERG

Rio Tinto Group's calamitous USD 3.7 billion coal deal in Mozambique, involving a plan to barge the fuel hundreds of kilometers down the Zambezi River, keeps coming back to haunt the world's second-biggest miner ­ already grappling with another African misadventure.

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