Rio Tinto to sell Mich. project to Lundin Mining for $325M

Jun 13, 2013 | 12:53 PM | Shivani Singh

Tags  Rio Tinto, Eagle Mine, Lundin Mining, copper, nickel, Michigan project, Shivani Singh

SINGAPORE — Rio Tinto Plc has agreed to sell its Eagle nickel-copper project in Michigan’s Upper Peninsula to Lundin Mining Corp. for $325 million.

The deal, which is subject to regulatory approval, is expected to close in the third quarter, the London-based miner said.

The Eagle project includes a high-grade underground nickel-copper mine and mill. Construction started in June 2010 and is about 55-percent complete, Rio Tinto said.....

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