60yrs on, Rio Tinto Plc sells diamond & coal mining assets to RZ Murowa Holdings, & withdraws

GLOBAL giant Rio Tinto Plc on Friday announced the sale of its diamond and coal mining assets in Zimbabwe to RZ Murowa Holdings, marking the withdrawal of one the world’s iconic mining firms from the country after a 60 year presence. Before the announcement, Rio owned 78 percent of the Murowa diamond mine in central Zimbabwe and 50 percent of the undeveloped Sengwa coal project. Rio’s Zimbabwean spin-off, RioZim, owns 22 percent of Murowa and…

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