£2.8bn handed to Rio investors

MINER Rio Tinto has pledged to return £2.8bn to shareholders from selling its Australian coal assets.

Earlier this year it raised about £3.6bn from the sale of the assets to Glencore.

Miners are increasingly handing back money to shareholders following a recovery from the commodity crash, prioritising shareholder returns over deal-making.

Boss Jean- Sebastien Jacques said: ‘This demonstrates our commitment to capital discipline and providing sector-leading returns.’ The company’s London- listed shares rose 2.6pc yesterday.