Tue, Jul 29, 2014, 9:58 AM EDT - U.S. Markets close in 6 hrs 2 mins

Recent

% | $
Click the to save as a favorite.

Dominion Diamond Corporation Message Board

  • dkwilk dkwilk Jun 23, 2013 9:35 PM Flag

    UPDATE 1-Rio Tinto decides to hang on to diamonds business

    Global miner Rio Tinto Ltd has scrapped the planned sale of its diamonds business, valued in its books at $1.3 billion, amid a slide in global financial markets and a tough environment for commodity asset sales.

    The decision announced on Monday marks the first of a string of planned asset sales that the world no.3 miner may have to scrap in face of cautious bidders.

    Rio has been looking to sell iron ore, copper, coal and aluminium assets to pare $19 billion in net debt, cut costs, and beef up returns to shareholders, but has said all along it was not holding a fire sale.

    "We have valuable, high-quality diamonds businesses that are well positioned to capitalise on the positive market outlook," Rio Tinto Diamonds & Minerals chief executive Alan Davies said in a statement on Monday

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
DDC
14.23-0.05(-0.35%)9:52 AMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.