Rio Tinto’s Ex-CFO Must Face SEC Claims Over Drop in Mine Value

Rio Tinto Group’s former chief financial officer must face Securities and Exchange Commission claims over his role in publishing information that allegedly overstated the value of coal assets from a mining project in Mozambique, a federal court said.

Guy Elliott, who was CFO of the global mining company at the time of the mine valuation issue, lost a bid to avoid the SEC’s claims without going to trial, according to a ruling Thursday by Judge Analisa Torres of the US District Court for the Southern District of New York.

The SEC charged Rio Tinto, its then-chief executive officer, and Elliott ...