Rio Tinto Increases Share Buyback

By Olga CotagaFeaturesDow 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.

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.

Continue Reading Below

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

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