Rio Tinto Agrees Sale of Zimbabwe Interests
June 28, 15
(IDEX Online News) – Rio Tinto Diamonds has completed the sale of its two holdings in Zimbabwe. The company has sold its 78-percent interest in Murowa Diamonds and 50 percent interest in Sengwa Colliery Ltd (Sengwa) to RZ Murowa Holdings Limited.
RioZim Limited, an independent Zimbabwean mining company listed on the Zimbabwean Stock Exchange, already holds a 22-percent interest in Murowa Diamonds and a 50-percent interest in Sengwa and will assume the overall management of both entities.
The company said it believes the assets can be best managed by entities with existing interests in Zimbabwe.
Rio Tinto Diamonds and Minerals chief executive Alan Davies said the company was committed to the diamond industry and on operating its two underground mines, but that it was already in the advanced stages of an Indian diamond project.