Rio Tinto has reached an agreement to sell Rio Tinto Coal Mozambique, which consists of the Benga coal mine and other projects in the Tete province of Mozambique, to International Coal Ventures Pvt. Ltd. (ICVL) for $50 million. Rio Tinto acquired the assets for $3.7 billion when it purchased Riversdale Mining Ltd. in 2011. The sale is subject to certain conditions precedent and regulatory approvals.
- Written by E&MJ News