Axisymmetric gravity currents in a system rotating around a vertical axis, that result when a dense fluid intrudes horizontally under a less dense ambient fluid, are studied. Situations for which the density difference between the fluid is due either to compositional differences or to suspended particulate matter are considered. The fluid motion is described theoretically by the inviscid shallow-water equations. A ‘diffusion’ equation for the volume fraction in the suspension is derived for the particle-driven case, and two different models for this purpose are presented. We focus attention on situations in which the apparent importance of the Coriolis terms relative to the inertial terms, represented by the parameter [Cscr ] (the inverse of a Rossby number), is not large. Numerical and asymptotic solutions of the governing equations clarify the essential features of the flow field and particle distribution, and point out the striking differences from the non-rotating case (Bonnecaze, Huppert & Lister 1995). It is shown that the Coriolis effects eventually become dominant; even for small [Cscr ], Coriolis effects are negligible only during an initial period of about one tenth of a revolution. Thereafter the interface of the current acquires a shape which has a downward decreasing profile at the nose and its velocity of propagation begins to decrease to zero more rapidly than in the non-rotating situation. This relates the currents investigated here to the previously studied quasi-steady oceanographic structures called rings, eddies, vortices or lenses, and may throw additional light on the dynamics of their formation. The theoretical results were tested by some preliminary experiments performed in a rotating cylinder of diameter 90 cm filled with a layer of water of depth 10 cm in which a cylinder of heavier saline fluid of diameter 9.4 cm was released.