RIO Tinto is to sell its stake in Rössing Uranium to China National Uranium Corp Ltd for up to $106.5m, said Reuters citing a statement from the Anglo-Australian miner.
The sale of the 68.62% in Rössing Uranium, which owns the Rössing mine in Namibia, ends a period of extensive strategic assessment, the miner said.
“The sale of our interest in Rössing once again demonstrates our commitment to strengthening our portfolio and focussing on our core assets,” said Rio Tinto CEO, Jean-Sébastien Jacques.
The deal is subject to certain conditions, including approval by the Namibian Competition Commission, said Reuters.
Rio Tinto is currently in discussions to exit its shares in Simandou, an iron ore project in Guinea, to Chinalco. An outline agreement has been signed but the deal is yet to be completed. In July, Rio Tinto said discussions were continuing, but there was no detail on when they would be concluded.
