• Courage to do right

    A number of factors will impede Zuma’s opportunity to have a ‘Lula moment’, says Prof Dirk Kotze.

  • #Budget2016

    Possible steps that can be taken in the National Budget to avert a junk status.

  • No ordinary SONA

    A weak president presiding over a racially polarised nation faces a serious task.

All data is delayed
Loading...
See More

BHP Billiton sells RBM stake

Sep 07 2012 19:12
Sapa-AFP

Company Data

BHP BILLITON PLC [JSE:BIL]

Last traded 146
Change -3
% Change -2
Cumulative volume 2563191
Market cap 0

Last Updated: 11-02-2016 at 05:00. 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

BHP boss forgoes bonus

BHP document details 'desk protocol'

 
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

 
 
 

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:

SMALL BUSINESS

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

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

Voting Booth

Will Jacob Zuma's State of the Nation speech help SA avoid "junk" downgrade?

Previous results · Suggest a vote

Loading...