A stack reclaimer with a pile of iron ore at the Rio Tinto Parker Point ship loading terminal in western Australia. Picture: REUTERS
A stack reclaimer with a pile of iron ore at the Rio Tinto Parker Point ship loading terminal in western Australia. Picture: REUTERS

Bengaluru — Global miner Rio Tinto says it will sell its entire stake in Rössing Uranium to China National Uranium Corporation for up to $106.5m.

The sale of the 68.62% stake in Rössing Uranium, which owns the Rössing mine in Namibia, ends a period of extensive strategic assessment, the miner said in a statement on Monday.

“The sale of our interest in Rössing once again demonstrates our commitment to strengthening our portfolio and focusing on our core assets,” Rio Tinto CEO Jean-Sébastien Jacques said.

The deal is subject to certain conditions, including approval by the Namibian Competition Commission.

Reuters