Rio Tinto Limited (ASX:RIO, LON:RIO) has tied up the sale of its Mozambique coal assets which it acquired as part of its $4 billion acquisition of Riversdale Mining in 2011.
The global diversified miner announced in July it would divest the assets for just $US50 million to International Coal Ventures Private Limited (ICVL).
The assets include Rio Tinto Coal Mozambique, which comprises the Benga coal mine and other projects in the Tete province of Mozambique.
Rio Tinto says its other assets in the country are unaffected by the transaction.
The news comes after Rio Tinto revealed this week it was approached by Swiss based mining giant Glencore PLC (LON:GLEN) regarding a potential merger in July. Despite ongoing speculation Rio Tinto denies it remains in talks with Glencore since having rejected the merger in August.
Rio Tinto reported a net profit of $4.54 billion in the first half of the 2014 calendar year.
