Rio Tinto (RIO) has halted a 15-month effort to sell its $1.3B diamonds business after being...

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

Rio Tinto (RIO) has halted a 15-month effort to sell its $1.3B diamonds business after being unable to find a buyer. It's a setback for the company's plan to sell assets as it looks to reduce its $19B debt, lower costs and increase shareholder returns. However, Rio isn't the only miner to fail in trying to sell one of its operations, with Barrick Gold and Peabody Energy experiencing similar difficulties. (PR)