Rio Tinto (RIO) has agreed to sell its Eagle project in Michigan to Lundin Mining (LUNMF.PK) for...


Rio Tinto (RIO) has agreed to sell its Eagle project in Michigan to Lundin Mining (LUNMF.PK) for approximately $325M as part of its increasing focus on divesting non-core assets. The underground nickel-copper mine in the Upper Peninsula has construction about half complete and is expected to begin production in 4Q14; Lundin will spend another $400M to bring it on line.

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