{"id":9372,"date":"2012-03-27T15:35:38","date_gmt":"2012-03-27T13:35:38","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-2-diamonds-not-forever-rio-tinto-may-sell-business\/"},"modified":"2012-03-27T15:35:38","modified_gmt":"2012-03-27T13:35:38","slug":"update-2-diamonds-not-forever-rio-tinto-may-sell-business","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-diamonds-not-forever-rio-tinto-may-sell-business\/","title":{"rendered":"UPDATE 2-Diamonds not forever: Rio Tinto may sell business"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Diamonds arm could fetch around $2 bln – analyst<\/span><\/p>\n

<\/span><\/p>\n

* Competing against BHP’s diamonds sale<\/p>\n

<\/span><\/p>\n

* Diamonds business not big enough for Rio Tinto<\/p>\n

<\/span><\/p>\n

* Rio shares up 0.6 percent, trailing broader market<\/p>\n

<\/span><\/p>\n

By Sonali Paul and James Regan<\/p>\n

<\/span><\/p>\n

MELBOURNE\/SYDNEY, March 27 (Reuters) – Rio Tinto,
\nthe world’s third-largest miner, effectively invited bids on
\nTuesday for its diamonds business, on its books at $1.2 billion,
\nand joined rival BHP Billiton in backing away from a
\nbusiness that has lost its sparkle.<\/p>\n

<\/span><\/p>\n

Rio Tinto, which runs three mines in Australia,
\nCanada and Africa, said it was reviewing its diamond business
\nand would consider selling it, as it focuses on expanding in
\nmore profitable commodities such as iron ore, copper and
\nuranium.<\/p>\n

<\/span><\/p>\n

Its diamond business – the 100 percent-owned Argyle mine in
\nAustralia, famous for its pink diamonds, as well as 60
\npercent-owned Diavik mine in Canada and 78 percent-owned Murowa
\nmine in Zimbabwe – could come on the market at the same time as
\nBHP Billiton tries to sell its Ekati diamond mine in
\nCanada.<\/p>\n

<\/span><\/p>\n

“We have a valuable, high quality diamonds business, but
\ngiven its scale we are reviewing whether we can create more
\nvalue through a different ownership structure,” Rio Tinto’s
\ndiamonds and minerals CEO Harry Kenyon-Slaney said in a
\nstatement.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Diamonds arm could fetch around $2 bln – analyst * Competing against BHP’s diamonds sale * Diamonds business not big enough for Rio Tinto * Rio shares up 0.6 percent, trailing broader market By Sonali Paul and James Regan MELBOURNE\/SYDNEY, March 27 (Reuters) – Rio Tinto, the world’s third-largest miner, effectively invited bids on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9372","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9372"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}