Rio Tinto agrees sale of coal assets Mozambique

RNS Number : 6988N

Rio Tinto PLC

30 July 2014

 



Rio Tinto agrees sale of coal assets in Mozambique

30 July 2014

Rio Tinto has reached an agreement to sell Rio Tinto Coal Mozambique, which comprises the Benga coal mine and other projects in the Tete province of Mozambique, to International Coal Ventures Private Limited (ICVL) for US$50 million.

The assets were acquired by Rio Tinto as part of its acquisition of Riversdale Mining Limited in 2011.  

The sale is subject to certain conditions precedent and regulatory approvals.  The transaction is expected to close in the third quarter of 2014.

During the transition to the new owner, Rio Tinto will continue to manage the mine to the highest safety and environmental standards.  Rio Tinto's other assets in the country are unaffected by this transaction.

Note to editor

ICVL is a joint venture company incorporated in India and set up by the mandate of the Government of India exclusively for the purpose of the acquisition of coal mines and coal assets in overseas territories, primarily to meet the coal requirements of the promoter companies of ICVL.  The promoter companies of ICVL are also amongst the largest Government of India owned entities: Steel Authority of India Limited, Coal India Limited, Rashtriya Ispat Nigam Limited, National Minerals Development Corporation Limited and National Thermal Power Corporation Limited.

Contacts

[e-mail]

www.riotinto.com

  Follow @RioTinto on Twitter

Media Relations, EMEA/Americas Illtud Harri T [phone] M [phone] David Outhwaite T [phone] M [phone] Investor Relations, EMEA/Americas Mark Shannon T [phone] M [phone] David Ovington T [phone] M [phone] Grant Donald T [phone] M [phone]	Media Relations, Australia/Asia Bruce Tobin T [phone] M [phone] Matthew Klar T [phone] M [phone] Investor Relations, Australia/Asia Christopher Maitland T [phone] M [phone] Rachel Storrs T [phone] M [phone] Galina Rogova T [phone] M [phone]
Rio Tinto plc 2 Eastbourne Terrace London W2 6LG United Kingdom T [phone] Registered in England No. 719885	Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia T [phone] Registered in Australia ABN 96 004 458 404

 

END

 

 

DISGUGDRCUXBGSG