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Rio Tinto to sell Northparkes’ stake to China Molybdenum

Monday, July 29, 2013
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Keywords:Molybdenum raw materials copper mine

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[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.

[Editor:editor]

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