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Rio Tinto Asset sale eyed in Mozambique

January 23 2013 at 08:00am
By Bloomberg

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Rio Tinto was considering a sale of all or part of its coal business in Mozambique after last week flagging a $3 billion (R26.6bn) write-down for the assets, a person familiar with the matter said. The company had begun a review of the assets acquired in 2011 for A$3.9bn (R36.4bn) with the purchase of Riversdale Mining, the person said. Rio Tinto would also assess options of co-operating on rail and port infrastructure. Chief executive Tom Albanese was fired last week after asset write-downs totalling $14bn. – Bloomberg


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