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Rio Tinto’s Mozambique coal business ‘not for sale’, Walsh says
February 14, 2013 - 17:53 GMT
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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