Rio Tinto to Sell Stake in Guinean Simando Project to Chinalco
October 28 2016 - 6:45AM
Dow Jones News
LONDON--Rio Tinto PLC (RIO.LN) said Friday it is selling its
entire stake in Guinean Simandou project to Chinalco for a payment
of between $1.1 billion and $1.3 billion.
The payment depends on the timing of the project development,
the mining company said.
Rio Tinto shares at 1000 GMT were up 25 pence, or 0.9%, at 2,820
pence, valuing the company at GBP38.79 billion
Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
October 28, 2016 06:30 ET (10:30 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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