Rio Tinto, which owns 59% stake in Iron Ore Co of Canada, was unable to settle on a suitable price with potential buyers, the report https://on.wsj.com/2oshOd8 said.
Several global mining companies including Rio have been selling off a string of assets in recent years to decrease their debt load and focus on operations that are more profitable.
Rio Tinto did not immediately respond to a Reuters request for comment.
(Reporting by Rebekah Mathew in Bengaluru; Editing by Aditya Soni)