Rio Tinto Reportedly Plans To Sell Aluminium Assets In $1 Bln Deal

(RTTNews) - Mining giant Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) plans to sell unwanted aluminium assets in a potential $1 billion deal, the latest sign of global miners' attempts to restructure in the face of a commodities downturn, the Financial Times reported.

The Anglo-Australian company has engaged Credit Suisse to find a buyer for its Pacific Aluminium business, a group of smelters in Australia and New Zealand, the report said quoting people aware of Rio's plans.

The company has tried to sell Pacific Aluminium, known as PacAl, in the past, but halted its efforts in 2013 after there was scant interest in its lossmaking operations.