Australia-based miner Rio Tinto has cancelled its plans for the sale or public offering of its Canadian iron ore operations due to unsuccessful attempts to find buyers, according to the Wall Street Journal. As previously reported by SteelOrbis, the company had been preparing to take its subsidiary Iron Ore Company of Canada public in the first half of 2019.
Rio Tinto, which owns a 59 percent stake in Iron Ore Co. of Canada, was unable to agree on the price with potential buyers.