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Business deals

Rio Tinto sells African uranium mine to China

Deal paves way for shutting down money-losing uranium business

A sign shows the way to the Rio Tinto-owned Rossing Uranium Mine in the Namib Desert.    © Reuters
FUMI MATSUMOTO, Nikkei staff writer | Africa

SYDNEY -- Global mining behemoth Rio Tinto will sell its stake in a uranium mine in Namibia to a Chinese state-owned player for up to $106.5 million in the latest move to focus on such resources as iron ore and aluminum.

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