Rio Tinto (RIO +2.4%) is said to be pursuing an IPO of its gem unit, the world's largest...

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

Rio Tinto (RIO +2.4%) is said to be pursuing an IPO of its gem unit, the world's largest supplier of natural colored diamonds, after failing to find a buyer. RIO is working on asset sales and cutting staff as waning global demand for commodities is crimping revenue across the sector.

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