RIO rio tinto limited

News: RIO Washington Co to start talks with Canada gov't on Dominion takeover

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    July 17 (Reuters) -

    • Washington Co, whose takeover bid has been accepted by Canada's Dominion Diamond DDC.TO , will continue search for new Dominion CEO, no timeline, Washington president Lawrence Simkins says
    • Simkins says taking Dominion Diamond private allows for longer timeline to invest in exploration to expand mine life
    • Simkins says will start process of talking to gov't of Canada on Dominion takeover on Monday, confident of approvals
    • Simkins says Washington has had initial discussion with Rio Tinto about its 60 percent stake in Diavik diamond mine, which is 40 percent owned by Dominion
    • Simkins says had no discussions with Dominion Diamond's shareholders on takeover
 
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