Sumitomo lets China Moly buy Rio’s Northparkes copper stake

China Molybdenum has cleared a key hurdle to taking control of Rio Tinto Northparkes copper mine, with Japan’s Sumitomo Metal Mining and Sumitomo Corp deciding not to match the Chinese miner’s US$820 million bid.

via Business feed http://www.scmp.com/business/companies/article/1302362/sumitomo-lets-china-moly-buy-rios-northparkes-copper-stake