Rio Tinto-backed Australian salt exporter to sell production site

SYDNEY -- Australia's Dampier Salt, the world's largest salt exporter, is selling one of its three production sites in the country to a domestic peer for $251 million, the company announced Tuesday.

British-Australian resource giant Rio Tinto holds a 68% interest in Dampier, while Japanese trading companies Marubeni and Sojitz hold 22% and 10% stakes, respectively.