Rio Tinto decides to hang on to diamonds business

Global miner Rio Tinto Ltd has scrapped the planned sale of its diamonds business, valued in its books at US$1.3 billion (HK$10.1 billion), amid a slide in global financial markets and a tough environment for commodity asset sales.

The decision announced on Monday marks the first of a string of planned asset sales that the world no.3 miner may have to scrap in face of cautious bidders.

via Business feed http://www.scmp.com/business/companies/article/1267764/rio-tinto-decides-hang-diamonds-business