Rio Tinto sells wharf and land options to Shell-led venture

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

Rio Tinto (RIO) enters into an option agreement with LNG Canada, a joint venture which includes Royal Dutch Shell (RDS.A, RDS.B), to acquire or lease a wharf and associated infrastructure at its Kitimat aluminum smelter in British Columbia to build and operate a natural gas liquefaction plant and marine terminal export facility.

RIO agrees to provide LNG Canada with a staged series of options payable against project milestones; it did not disclose the terms of the deal.