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Article: Rio Tinto Reaches Agreement to Sell Its Kintyre Uranium Project For US$495 Million.
- Article from:
- Business Wire
- Article date:
- July 10, 2008
CopyrightCOPYRIGHT 2008 Business Wire. 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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MELBOURNE, Australia -- Rio Tinto has signed an agreement to sell the Kintyre uranium project located in Western Australia to a joint venture consortium comprising subsidiaries of Cameco Corporation and Mitsubishi Development Pty Ltd for US$495 million.
Guy Elliott, chief financial officer of Rio Tinto, said, "This sale brings us closer to achieving our asset sales target of US$10 billion in 2008, and is the third under a planned programme to divest at least US$15 billion of assets in total.
"It illustrates our ability to obtain real value for our assets and follows the sales earlier this year of the Greens Creek mine in Alaska for US$750 million and our ...