Rio Tinto Ltd
(ASX:RIO) is reportedly in advanced talks to divest its talc business, Luzenac, for around $667 million to a French mineral conglomerate, Imerys.
Rio last year announced it would sell the business to pay down its debt though disposing of assets.
According to The Australian the asset disposal program has already reaped Rio over $10.13 billion.
Luzenac meets around one fifth of global demand for talc.
Rio Tinto booked a net profit of $7.36 billion in the 2010 financial year.
