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Rio Tinto plans to take Canadian iron ore unit public- The 20th China (Guangzhou ) Int’l tube & pipe Processing Equipment Exhibition
12/28/2018 管材展-钢管展-steel tube expo-tube &pipe expo |
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It was reported that Rio Tinto has announced plans to register Iron Ore Company of Canada (IOC) to be listed in the capital market, Rio Tinto has 58.7% stock share and Mitsubishi has 26.2% share and Canada ore corporation owns 15.1% share.
Regarding the IPO, the expected value for Rio Tinto is US$4 billion and the company also invited some investing bankers including JP Morgan to evaluate the possibility for IPO plan.
Since 2018 august, the second largest miner, Rio Tinto focus on the strategy in Australia west Plibara area because the cost is lower than others and the quality is higher.
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