StockMarketWire.com - Rio Tinto said it had completed the sale of its entire interest in the Grasberg gold and copper mine in Indonesia for $3.5bn.

The deal was part of a series of transactions involving Inalum, Indonesia's state mining company, and Freeport McMoRan.

The mining giant said it would announce how proceeds from the sale would be allocated during its 2018 full-year results.

'This sale brings the total divestment proceeds received across the last two years to over $11bn as we continue to strengthen the portfolio,' chief executive J-S Jacques said.

'Over that same period, we have returned or announced an intention to return over $18bn to our shareholders, demonstrating our disciplined approach to capital allocation and commitment to continuing to deliver sector leading returns.'


At 2:21pm: [LON:RIO] Rio Tinto PLC share price was +46.75p at 3793.25p



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