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Rio Tinto’s Mozambique coal business ‘not for sale’, Walsh says

February 14, 2013 - 17:53 GMT Location: London

KEYWORDS: Rio Tinto , Mozambique , coking coal , divestment , Sam Walsh , Harry Kenyon-Slaney

Anglo-Australian mining major Rio Tinto has no immediate plans to sell its Mozambique coking coal business, ceo Sam Walsh said on Thursday February 14.

"Mozambique is not on the divestment list at the moment," Walsh said, despite instituting sweeping cost-cutting measures across its energy division. He said he was awaiting feedback from Rio Tinto's energy boss Harry Kenyon-Slaney before deciding on the fate of the business. "I am hopeful that there will be an upside," Walsh said. "It is a world-class deposit. It has issues, but the fundamentals behind it are solid – it’s the reason we invested there." Rio Tinto...

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