November 26, 2018 / 3:57 AM / 6 months ago

Rio Tinto to sell its stake in Rössing Uranium for up to $106.5 million

FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray

(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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below