Rio puts Canada IPO plan on hold

Original article by Rhiannon Hoyle
The Australian – Page: 20 : 1-Oct-19

Mining giant Rio Tinto has advised that it is longer seeking to divest its controlling stake in Iron Ore Co of Canada via a trade sale or IPO. The recent volatility in the price of iron ore has affected the potential sale price of the business, in which Rio Tinto has a 59 per cent stake. Rio Tinto first flagged plans to sell the Canadian business in 2013, and CEO Jean-Sebastien Jacques indicated in 2017 that the resources giant would not hold a "fire sale" of unwanted assets.

CORPORATES
RIO TINTO LIMITED – ASX RIO, IRON ORE COMPANY OF CANADA, MITSUBISHI CORPORATION, LABRADOR IRON ORE ROYALTY INCOME CORPORATION

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