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Rio Tinto sales gains approval

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Global miner Rio Tinto has received approval from the Brazilian National Defence Council for the proposed sale of its Corumba iron ore mine to Brazil’s Vale SA, Rio Tinto has announced..

Rio Tinto had announced the $750 mn (£450mn) sale of Corumba last January as part of a $1.6 bn deal to sell a range of assets to Vale, the world’s biggest iron ore miner.