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Article: Rio Tinto Completes Sale of Greens Creek Mine Interest.
- Article from:
- PR Newswire
- Article date:
- April 16, 2008
CopyrightCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON, April 16 /PRNewswire/ -- Rio Tinto has completed the sale of Kennecott Greens Creek Mining Company and Kennecott Juneau Mining Company, the subsidiaries holding its 70.3 per cent interest in the Greens Creek mine in Alaska to an affiliate of Hecla Mining Company, giving Hecla 100 per cent ownership.
The sale price includes cash consideration of US$700 million and $50 million in Hecla stock. The transaction, which was announced on 12 February 2008, is part of Rio Tinto's planned programme to divest at least US$15 billion of assets. Rio Tinto also recently completed the sale of its interest in the Cortez gold mine in Nevada for $1.695 billion in cash ...