Rio mulling Mozambique sale: report

Rio Tinto Ltd is weighing either a whole or partial sale of its Mozambique coal operations, The Wall Street Journal reports.

Rio Tinto Ltd is weighing either a whole or partial sale of its Mozambique coal operations, The Wall Street Journal reports.

According to the newspaper, sources close to the matter say Rio is in talks with several investment banks as it looks to secure a financial advisor to guide the sales process.

In February, Rio Tinto said it wasn't looking to sell the project.

The WSJ quoted a source as saying the entire coal unit could be sold for more than $700 million, while even the sale of a minority stake would ease the mining giant's capital ependiture burden.