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Rio Tinto sells Mozambique coal assets for $50 mln

Reuters - UK Focus

LONDON, July 30 (Reuters) - Global miner Rio Tinto (Xetra: 855018 - news) said on Wednesday it has agreed to sell its coal assets in Mozambique to International Coal Ventures Private Limited for $50 million.

The sale of Rio Tinto Coal Mozambique, which comprises the Benga coal mine and other projects in the Tete province of Mozambique, is subject to certain conditions and to regulatory approvals and is expected to be completed in the third quarter this year.

Rio acquired the Mozambican assets in 2011, when it bought Riversdale Mining. (Reporting by Silvia Antonioli; editing by Louise Heavens)