Rio Tinto signs a letter of intent for the sale of Zinkgruvan

Rio Tinto signs a letter of intent for the sale of Zinkgruvan

Recent news in the market reports that, Anglo-Australian Rio Tinto has signed a letter of intent with South Atlantic Ventures (SAA) to sell its 100% share in Zinkgruvan Mining AB in Sweden. The proposed amount for the assets of Zinkgruvan is $100 million. Moreover, for the completion of the sale, a non-refundable deposit of $1 million and a further payment for working capital should be paid. The transaction is subject to the agreement of the both parties on all terms.