(Reuters) - Global miner Rio Tinto Ltd said on Monday it will sell its entire stake in Rössing Uranium Ltd to China National Uranium Corp Ltd for up to $106.5 million.
The sale of the 68.62 per cent stake in Rössing Uranium Ltd, which owns the Rössing mine in Namibia, ends a period of extensive strategic assessment, the miner said in a statement.
“The sale of our interest in Rössing once again demonstrates our commitment to strengthening our portfolio and focussing on our core assets,” Rio Tinto Chief Executive Jean-Sébastien Jacques said.
The deal is subject to certain conditions, including approval by the Namibian Competition Commission.
Reporting by Aditya Soni in Bengaluru