Rio’s revamp hints at potential $9bn BHP-style spinoff

June 21, 2016

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Rio Tinto Group looks like it’s putting about $9-billion of unwanted assets from coal and uranium to Canadian iron-ore into a single basket ready to spin off, according to Sanford C. Bernstein.

Incoming CEO Jean-Sebastien Jacques on Tuesday revamped the four key divisions of the world’s second-biggest mine operator. The new Energy and Minerals segment features coal and uranium mines, salt, borates and titanium-dioxide businesses, and Rio’s Iron Ore Company of Canada unit.

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