Rio Tinto Finalizes Sale of Mozambique Coal Assets

The Australian reported that Rio Tinto (NYSE:RIO) has completed the same of its coal assets in Mozambique to India’s International Coal Venture Private Ltd.. The sale will not affect Rio Tinto’s other assets in the country.

As quoted in the publication:

The $US50 million ($54.1m) sale of the Benga mine and other coal projects in the Tete province, announced in July, follows the fulfillment of regulatory approval and other conditions.

It is sharply below the $3.9 billion Rio Tinto originally paid for the assets when it acquired Riversdale Mining in 2011.

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