Rio Tinto’s acquisitive mood shows no signs of relenting, with the multinational miner buying a strategic stake in mineral sands producer Sovereign Metals.
Rio effectively valued Sovereign’s African rutile and graphite project at $270 million on Monday when it agreed to pay $40.4 million for 15 per cent of the ASX-listed junior.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
