Rio Tinto
Rio Tinto is a leading international mining group. The Group's major products include aluminium, copper, diamonds, energy products, gold, industrial minerals (borates, titanium dioxide, salt and talc), and iron ore.
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Rio Tinto calls off sale of borates business
Rio Tinto PLC (LSE, ASX: RIO) said it has taken its borates business off the market after the sales process did not achieve values acceptable to the company in the prevailing economic conditions. The process is continuing for other businesses slated for divestment, including talc.
Rio Tinto believes the borates business is a good fit within its overall portfolio, based on its asset base, share of global supply and presence in Asian markets.
Rio Tinto has also decided not to sell its Jadar lithium-borate deposit in Serbia, which will now be transferred from its Exploration group to be managed within the borate business.
This year Rio Tinto has announced agreed sales totalling US$2.5 billion, including US$850 million for the undeveloped potash assets in Argentina and Canada, US$750 million for the Corumbá iron ore operation in Brazil, US$761 million for the Jacobs Ranch coal mine in the US and US$125 million for the Ningxia aluminium smelter in China.
Other Rio Tinto news
- Rio first half profits fall 65pct, in-line with expectations
2009-08-21 - China accuses Rio of six-year "commercial espionage" program
2009-08-10 - Police detain Shougang executive in Rio espionage probe
2009-07-10 - Rio Tinto employees arrested amid reports of Chinese climbdown in iron-ore negociations
2009-07-08 - Rio BHP deal highlights strategic importance of seaborne iron ore
2009-06-10
