Rio Tinto to sell Northparkes’ stake to China Molybdenum

  • Monday, July 29, 2013
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  • Keywords:Molybdenum raw materials copper mine
[Fellow]
[Ferro-Alloys.com] China Molybdenum has agreed to buy Rio Tinto’s Australia-based Northparkes copper and gold mine for $820 million, as it expands its business beyond steelmaking raw materials.
 
The global miner has already sold its Eagle nickel and copper mine in the US for $325 million, and is selling its stake in Palabora Mining copper mine in South Africa for $446 million. Palabora is expected to be sold by July 31.
 
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