Rio's Stake in Northparkes has Put Up for Sale
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- Category: Molybdenum's News
- Published on 30 July 2013
- Hits: 361
The stake in Northparkes is one of several assets Rio has put up for sale as it aims to slash $5 billion in costs, pare debt and focus on its biggest, most profitable mines.
It is also trying to sell a minority stake in Coal & Allied in Australia and its majority hold in Iron Ore Company of Canada.
Copper assets are selling fastest among the wide range of mining assets on the block worldwide, with the higher-than-expected price tag on the Northparkes deal boding well for Glencore Xstrata's sale of the $5 billion Las Bambas copper project in Peru.
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