Mining giant Rio Tinto (RIO.L) today confirmed the sale of its Mozambique Coal business has been completed. In a deal of an undisclosed amount the Coal business was sold to International Coal Ventures Private Ltd after the sale was approved by regulators and necessary conditions were met.
The sale, which was first announced on the 30th July this year means the Benga Mine and other projects in the Tete region of the country have now been disposed of. Rio Tinto still retains its other interests in the country.
Mining giant Rio Tinto (RIO.L) today confirmed the sale of its Mozambique Coal business has been completed. In a deal of an undisclosed amount the Coal business was sold to International Coal Ventures Private Ltd after the sale was approved by regulators and necessary conditions were met.
The sale, which was first announced on the 30th July this year means the Benga Mine and other projects in the Tete region of the country have now been disposed of. Rio Tinto still retains its other interests in the country.
Recently Rio Tinto was involved in a failed takeover approach from fellow miner Glencore (GLEN.L)
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