South Africa’s Industrial Development Corp. is part of a group that has submitted a bid for Palabora Mining Ltd., a copper miner majority-owned by Rio Tinto Plc (RIO), the New Age reported, citing the IDC.
It expects a decision from the sellers, which also include Anglo American Ltd., by the end of March, the Johannesburg-based paper reported.
Rio Tinto declined to provide details on the sales process, the newspaper said.
To contact the reporter on this story: Jana Marais in Johannesburg at email@example.com
To contact the editor responsible for this story: John Viljoen at firstname.lastname@example.org