• Busting Uber myths

    The ehailing firm is constantly trying, succeeding - and sometimes failing, says Ian Mann.

  • Trapped in a democracy

    The very people elected to bring benefits to all are undermining SA, says Solly Moeng.

  • Marikana spectre

    Five years after the bloody massacre calls for justice are growing louder, says Terry Bell.

Loading...

BHP Billiton sells RBM stake

Sep 07 2012 19:12
Sapa-AFP

Company Data

BHP BILLITON PLC [JSE:BIL]

Last traded 232
Change -1
% Change 0
Cumulative volume 535558
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Dark clouds loom over Aus mining boom

Australian miners still spending

Australian mining boom 'over'

BHP shelves $20bn Olympic Dam project

 
London - Anglo-Australian miner BHP Billiton [JSE:BIL] said on Friday it had completed the sale of its 37% stake in Richards Bay Minerals (RBM) to rival Rio Tinto for $1.91bn.

BHP Billiton said the sale of its share in the South African mineral sands miner and smelting operator "reflects the company's commitment to a simpler, more scalable upstream portfolio".

Rio Tinto had already owned a 37% stake in RBM and managed its operations and marketed its products.

BHP had triggered the sale in February when it exercised an option to sell its stake agreed during a 2009 restructuring of RBM.

"Doubling our stake in this tier one asset further strengthens Rio Tinto's titanium dioxide portfolio at a time when the long-term outlook remains robust," said Rio Tinto Diamonds & Minerals chief executive Alan Davies.

In 2011, RBM had a 14% share in global sales of titanium dioxide feedstock, according to Rio Tinto.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.
 
bhp billiton  |  rio tinto  |  mining

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're Talking About...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The proposal to nationalise SARB will

Previous results · Suggest a vote

Loading...