Rio Tinto to Sell Northparkes’ Stake to China Molybdenum
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- Category: Molybdenum's News
- Published on 31 July 2013
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China Molybdenum has agreed to buy Rio Tinto’s Australia-based Northparkes copper and gold mine for $820 million, as it expands its business beyond steelmaking raw materials.
The global miner has already sold its Eagle nickel and copper mine in the US for $325 million, and is selling its stake in Palabora Mining copper mine in South Africa for $446 million.
Palabora is expected to be sold by July 31. The sale of Northparkes is also subject to Rio Tinto’s joint venture partners, Sumitomo Metal Mining.
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