Rio Tinto sells stake in Palabora for $373m

By Siobhan Lismore-Scott
Published: Tuesday, 11 December 2012

World’s largest vermiculite miner “no longer natural fit;” Chinese and South African buy

Rio Tinto confirmed today that it has sold its stake in South African copper and vermiculite miner Palabora — as predicted by IM’s Inside Edge two weeks ago — for $373m.

“Rio Tinto has reached a binding agreement to sell its 57.7% effective interest in Palabora Mining Company...

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