2018 share buy-back programme
During 2018, we purchased $5.4 billion of shares through a combination of on-market purchases of Rio Tinto plc shares and an off-market buy-back of Rio Tinto Limited shares.
The on-market purchases of $3.3 billion Rio Tinto plc shares comprised the return of $1.904 billion of the Coal & Allied proceeds announced on 21 September 2017 (relating toUS$1.925 billion of the $2.5 billion share buy-back programme attributed to the Rio Tinto plc on-market share buy-back), theUS$1 billion programme announced on 7 February 2018 and $0.4 billion of theUS$1 billion programme announced on 1 August 2018. The remaining purchases under this programme were completed by 27 February 2019.
In addition, we returned $2.1 billion through a Rio Tinto Limited off-market buy-back as part ofthe return of approximately $3.2 billion of post-tax coal disposal proceeds announced in September 2018. The remaining $1.1 billion of post-tax coal disposal proceeds were returned through an on-market Rio Tinto plc share buy-back which commenced on 28 February 2019 and was completed by 28 February 2020. Please refer to the 2019 share buy-back programme.
Rio Tinto plc
On 20 September 2018,we unveiled the details of how we intend to return approximately $3.2 billion of post-tax coal disposal proceeds to our shareholders.
Following the completion of the off-market buy-back of Rio Tinto Limited shares (see below), the aggregate maximum consideration now available for the on-market Rio Tinto plc share buy-back portion of the additional $3.2 billion share buy-back programme was US$1,119 million. This part of the programme was from 28 February 2019 and was completed by 28 February 2020. Please refer to 2019 share buy-back programme.
This is in addition to the ongoing Rio Tinto plc buy-back programmes detailed below.
On 1 August 2018,we announced an on-market share buyback programme to repurchase Rio Tinto plc's ordinary shares for a maximum aggregate consideration of US$1 billion, which was completed by 27 February 2019.
On 7 February 2018,we announced an on-market share buyback programme to repurchase Rio Tinto plc's ordinary shares for a maximum aggregate consideration of US$1 billion, which was completed by 31 December 2018.
On 21 September 2017, we announced an on-market share buy-back programme to repurchase Rio Tinto plc's ordinary shares for a maximum aggregate consideration of US$1.925 billion, which was completed by 31 December 2018. This formed part of the $2.5 billion share buy-back programme, returning the proceeds from the sale of Coal & Allied. Please refer to 2017 share buy-back programme.
Rio Tinto Limited
We havesuccessfully completed our off-market buy-back of Rio Tinto Limited shares, with the purchase of 41,198,134 million shares, at an aggregated cost of A$2,871 million (US$2,081 million). The Buy-Back Price was A$69.69 per share which represented a discount to the Market Price of 14 per cent.
Important notice
This announcement, and any other documents related to the Buy-Back, are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia) or Canada.