Rio Tinto Might Need to Hang Onto Titanium Business Till Markets Improve
Dow Jones07-30
0257 GMT - Weak titanium-dioxide markets mean Rio Tinto might need to keep its iron and titanium business for now, according to Barclays analyst Amos Fletcher. Rio has been evaluating options for the unit as CEO Simon Trott works to simplify the giant miner's sprawling global operations. At Rio's 1H result, management flagged very weak markets that mean a sales process is likely to take longer than expected, says Fletcher. The business "may ultimately need to be retained pending better market conditions," he says. Rio shares are 1.5% higher in Sydney at A$167.87.
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