Date: 8 months ago   Category: Economy

Rio Tinto is close to sale of the Canadian assets


The Australian corporation Rio Tinto, the second-large supplier of iron ore in the world, is close to sale of the Canadian assets offered for sale in the first half of the current year the Iron Ore Company of Canada Company (IOC) in which Rio Tinto owns 58,7% of stocks which cost is estimated approximately at $6 billion reports the British media
of
, has capacities for annual release up to 22 million t of an iron ore concentrate. The plant on release of pellets with a productivity of 10 million t a year also is a part of the company. The company extracts iron ore on the peninsula of Labrador in the northeast of Canada and Seth-or (provints3iya Quebec) on a branch line 418 km long delivers finished goods to the port.

of Rio Tinto already tried to offer the equity stake of IOC for sale in 2013, but then she was prevented by the decrease in the world prices for iron ore which has led to falling of cost of this asset. However recently the world market of iron ore looks quite steady.

As reports Rio Tinto, interest in acquisition of a controlling stake of IOC was already expressed by multinational metallurgical corporation ArcelorMittal and the largest diversified mining company Teck Resources of Canada.

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