RIO TINTO Disposes Assets in Zimbabwe

RAPAPORT reported that Rio Tinto (NYSE:RIO) disposed off its seventy eight percent stake in Murowa Diamonds and its fifty percent share of Sengwa Colliery Ltd. to RZ Murowa Holdings Ltd. of Zimbabwe.

As quoted in the market news,

Rio Tinto stated that the future of these assets can be best managed by companies with existing interest in Zimbabwe, while not specifically addressing the proposed diamond-mining consolidation efforts underway by the government.

Rio Tinto’s diamonds and minerals CEO, Alan Davies, stated:

Rio Tinto remains committed to the diamond industry and is focused on operating its two world-class underground mines while obtaining the approvals for its advanced diamond project in India.

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