Rio tight-lipped on Ranger sales reports

ABC NT Local News

A Rio Tinto spokeswoman says the company will not comment on media reports it is looking to sell its majority stake in Energy Resources Australia, which runs the Ranger uranium mine near Jabiru.

The spokeswoman says the company does not comment on market rumour and speculation, which includes reports it is talking with Japanese companies to sell its 68 per cent stake in ERA in order to get out of debt.

Australian Financial Review journalist Trevor Sykes says workers should not worry about the reports as any sale might be hampered by industry restrictions.

"They shouldn't be too worried. For one thing Rio may not be able to hand it across all in one slab," he said.

"Delivering 68 per cent of a company really takes a lot of doing because you're in breach of the companies act to start off with."


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