Rio Completes Mozambique Coal sale

Mining giant Rio Tinto has completed the sale of its Mozambique coal assets to International Coal Ventures Private Limited.

Rio paid $3.9 billion for the assets but has sold them for just $US50 million ($A54.1 million) after receiving regulatory approvals.

The global miner announced the sale, which comprises the Benga mine and other coal projects in the Tete province of Mozambique, in July.

In a statement Rio said its other assets in Mozambique remained unaffected by the transaction.

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