Rio Tinto completes Hathor Exploration acquisition

15 January 2012 (Last Updated January 15th, 2012 18:30)

Rio Tinto, through an indirect wholly owned subsidiary, has acquired uranium mining company Hathor Exploration.

Rio Tinto's Hathor Acquisition

Rio Tinto, through an indirect wholly owned subsidiary, has acquired uranium mining company Hathor Exploration.

The firm is now the registered holder of 135,290,661 Hathor common shares, representing 100% of the outstanding Hathor common shares on a fully-diluted basis.

The Hathor common shares have been delisted from the Toronto Stock Exchange and Hathor now needs to apply to the relevant securities commissions to cease to be a reporting issuer in all applicable Canadian jurisdictions.

The news follows Rio Tinto's acquisition of a 70.21% stake in Canadian company Hathor Exploration for a total amount of A$627m (US$641.6m) last month.

As per the deal, Rio Tinto acquired 94,950,089 common shares of Hathor within ten days.

Later in that month, Rio Tinto extended its offer to acquire 111,170,930 Hathor Exploration common shares, representing 87.26% of the outstanding Hathor common shares.

Image: Rio Tinto now holds 135,290,661 common shares of Hathor Exploration, which have been delisted from the Toronto Stock Exchange. Photo: Rio Tinto.