Rio Tinto Increases Share Buyback

By Olga Cotaga Features Dow Jones Newswires

Rio Tinto PLC (RIO.LN) said Friday it is raising the amount of shares it is going to buy between March 1 and July 28 to $300 million.

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The mining company previously planned to buy back about $206 million worth of shares during the period as part of its larger share buy-back program.

Rio Tinto said it is allocating a maximum $500 million to the program to the end of this year.

Shares closed Friday down 0.7% at 2970 pence.

Write to Olga Cotaga at olga.cotaga@wsj.com

(END) Dow Jones Newswires

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May 12, 2017 12:06 ET (16:06 GMT)