Once Valued at $4 Billion, Mozambique Coal Assets to Be Sold by Rio Tinto for $50 Million

JOHANNESBURG--August 4, 2014--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Global mining major Rio Tinto plc (NYSE:RIO) (London, England) has announced it will sell Mozambique coal mine assets and other projects to International Coal Ventures Private Limited (ICVL) (New Delhi, India) for $50 million. Rio Tinto had acquired the assets for $4 billion in 2011.

Within this article: Details on the Bengal Coal Mine Project in Mozambique.

Other companies featured: Anglo American (NYSE:AAL), Vale S.A. (NYSE:VALE)