Mining firm to list

Rio Tinto, the world’s second-biggest mining company, has plans to take its Iron Ore Company of Canada business public, according to an article published in the Financial Post on December 24. The company is expected to be dual-listed on the New York and Toronto exchanges during the first half of the year, and Rio Tinto is expecting a valuation of about US$4 billion. Mitsubishi has a 26 per cent share in the business, which has operations in Labrador and Newfoundland. Rio Tinto unsuccessfully tried to sell its 58 per cent stake in the business in 2012 and 2013.

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