Rio Tinto Decides Not to Sell Borates Business

Rio Tinto has taken its borates business off the market after the sales process did not achieve values acceptable to the company in the prevailing economic conditions. The sales process is continuing for other businesses slated for divestment, including talc.

Rio Tinto believes the borates business is a good fit within its overall portfolio, based on its asset base, share of global supply and presence in Asian markets. Rio Tinto has also decided not to sell its Jadar lithium-borate deposit in Serbia, which will now be transferred from its Exploration group to be managed within the borate business.

This year Rio Tinto has announced agreed sales totalling US$2.5 billion, including US$850 million for the undeveloped potash assets in Argentina and Canada, US$750 million for the Corumbá iron ore operation in Brazil, US$761 million for the Jacobs Ranch coal mine in the United States and US$125 million for the Ningxia aluminium smelter in China.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.