Rio Tinto to sell Australian mine stake

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

Rio Tinto (RIO) will sell its 80% stake in Northparkes mine to China Molybdenum for $820M. The deal is contingent upon Sumitomo Corp waiving its right to match the offer, WSJ says.

In June, RIO sold its Michigan Eagle Project to Lundin Mining for $325M.