Rio Tinto (RIO) is accelerating a plan to sell billions of dollars in non-core assets despite a...


Rio Tinto (RIO) is accelerating a plan to sell billions of dollars in non-core assets despite a slowdown in commodities that could lower the price tag on the deals. Latest to go on the block is the 57% stake in Ivanhoe Australia owned by unit Turquoise Hill Resources (TRQ), with a market value of ~$156M. RIO also has been trying to sell TRQ’s 58% stake in Mongolia-focused SouthGobi Resources.

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Comments (2)
  • marpy
    , contributor
    Comments (1703) | Send Message
     
    Tinto is cleaning house - First it sells what it does not want (Does not seem to matter that market conditions suck as far as resource sales are concerned). Then it will beef up in area's/ projects where it has targeted growth. IMO - TRQ has to be on their mid term radar for purchase. First though they need to get things Ironed out with the GOM. JMO
    11 Apr 2013, 02:28 PM Reply Like
  • jayinbaker
    , contributor
    Comments (9) | Send Message
     
    RIO is simply robbing the minority holders of TRQ blind. Why none of the major 49% holders of TRQ are allowing this is unclear. It's no secret that they got involved with TRQ only for Oyu and care less for the other valuable TRQ companies. To be fair, they should spin off the other assets of TRQ and buyout the Oyu project. They can then sell their spin off shares of the lesser companies.
    13 Apr 2013, 10:58 PM Reply Like
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