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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rio Tinto plc    RIO   GB0007188757

RIO TINTO PLC

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Rio Tinto : completes sale of its stake in Rossing Uranium Limited

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07/17/2019 | 09:58am EDT

Rio Tinto has completed the sale of its entire interest in the Rossing uranium mine in Namibia to China National Uranium Corporation Limited (CNUC) for an initial cash payment of $6.5 million plus a contingent payment of up to $100 million.

Rio Tinto chief executive J-S Jacques said 'This sale demonstrates Rio Tinto's commitment to further simplifying and strengthening our portfolio and brings the total divestment proceeds received since 2017 to $11.2 billion, of which $9.7 billion has been returned to our shareholders.

'I would like to recognise the hard work of people across Rio Tinto and the communities around Rossing who have contributed to the success of the mine and wish them all the best for the future under new ownership.'

The $100 million contingent payment is linked to uranium spot prices and Rossing's net income during the next seven calendar years. In addition, Rio Tinto will receive a cash payment if CNUC sells the Zelda 20 Mineral Deposit during a restricted period following completion.

Notes to editors

As announced on 19 November 2018, CNUC is considered to be a related party of Rio Tinto plc under the UK's Financial Conduct Authority Listing Rules and the entry into the transaction was a smaller related party transaction, falling within the UK Financial Conduct Authority Listing Rule 11.1.10R.

LEI: 213800YOEO5OQ72G2R82

Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State.

Contact:

Tel: +61 3 9283 3333

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2019 44 477 M
EBIT 2019 17 426 M
Net income 2019 10 416 M
Debt 2019 5 073 M
Yield 2019 10,1%
P/E ratio 2019 7,84x
P/E ratio 2020 8,18x
EV / Sales2019 1,98x
EV / Sales2020 2,10x
Capitalization 83 098 M
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Mean consensus HOLD
Number of Analysts 28
Average target price 56,93  $
Last Close Price 49,30  $
Spread / Highest target 43,7%
Spread / Average Target 15,5%
Spread / Lowest Target -24,0%
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Managers
NameTitle
Jean-Sébastien Jacques Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Jakob Stausholm Chief Financial Officer & Executive Director
Ann Frances Godbehere Independent Non-Executive Director
Michael Gerard L'Estrange Independent Non-Executive Director
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