MOZAMBIQUE Rio Tinto sells coal assets to Indian joint venture

摘要

Rio Tinto has drawn a line under its XV disastrous Mozambique adventure with the sale of its coal assets in the country for US$ 50 million to International Coal Ventures. The global mining giant had bought the assets for US$ 3.7 billion in 2011 when it acquired Riversdale Mining Ltd. Since then, development has been hindered by a lack of infrastructure and a drop in recoverable reserves, while the precipitous decline in global coal prices over the past two years asked questions of the projects' viability in an increasingly CAPEX-constrained market.