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

|About: Rio Tinto plc (RIO)|By:, SA News Editor

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.