Rio Tinto completes sale of Mozambique coal business

8th Oct 2014 08:09

Mining group Rio Tinto has completed the sale of its Mozambique coal business, it said on Wednesday.Rio, which this week said it had rebuffed a takeover approach from rival Glencore in August, said it sold Rio Tinto Coal Mozambique to International Coal Ventures Private Ltd after meeting all conditions and getting necessary regulatory approval.The sale, announced on 30 July, comprises the Benga mine and other coal projects in the Tete province of Mozambique. Rio Tinto's other assets in the country remain unaffected by the transaction, it said.