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Rio Tinto (NYSE:RIO): Current price $50.17
The miner Rio Tinto has put its iron-ore operations in Canada on the block, which could bring in excess of $1.7 billion, said inside sources on Friday. This marks the most recent move by a mining major to divest assets during a slump in commodities demand. Rio Tinto has recruited Credit Suisse (NYSE:CS) and the investment banking division of Canadian Imperial Bank of Commerce (NYSE:CM) to sell all or part of its 59 percent interest in Iron Ore Company of Canada. InterOil Corporation (NYSE:IOC) is the country’s number-one producer of the ore, which is used in for steelmaking.
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