Rio Tinto: completes sale of interest in Indonesia mine
(CercleFinance.com) - Rio Tinto has said that it has completed the sale of its entire stake in the Grasberg mine in Indonesia for 3.
5 billion dollars, in a deal involving Indonesia's state mining company Inalum and US miner Freeport McMoRan.
Rio Tinto held a right to 40% of the copper mine's production, but the
mining group incurred losses of 169 million dollars on its stake
for 2017.
The sale brings the total divestment proceeds to over 11 billion
dollars for the last two years, Rio said, with the group having
returned or announced its intention to return over 18 billion dollars to shareholders over the same period.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 billion dollars, in a deal involving Indonesia's state mining company Inalum and US miner Freeport McMoRan.
Rio Tinto held a right to 40% of the copper mine's production, but the
mining group incurred losses of 169 million dollars on its stake
for 2017.
The sale brings the total divestment proceeds to over 11 billion
dollars for the last two years, Rio said, with the group having
returned or announced its intention to return over 18 billion dollars to shareholders over the same period.
Copyright (c) 2018 CercleFinance.com. All rights reserved.