Rio Tinto Plans Palabora Stake Sale

Rio Tinto is seeking to sell a 57.7 percent stake in Palabora Mining Co.

Rio Tinto is seeking to sell a 57.7 percent stake in Palabora Mining Co. The U.K. international mining company has also started a commercial process to sell its shareholding.

Rio Tinto owns Palabora jointly with London-based Anglo American, which holds almost a 17 percent stake, adds Bloomberg. Their combined holding is valued at about $700 million. The balance shares are held by private investors.

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