The Kintyre divestment means Rio's only remaining Australian asset for sale is the Northparkes copper-gold mine in NSW, which may be worth about $US1 billion.
It is understood Oxiana was in negotiations to purchase the mine earlier this year but pulled out of the process. The chief executive of Zinifex, Andrew Michelmore - now head of OZ Minerals, the result of the merger of Oxiana and Zinifex - has ruled out interest in the mine, as has the CEO of Newcrest Mining, Ian Smith.
OXR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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