Rio Tinto's salt-ops JV to sell Lake MacLeod to Liveris-backed group (updated)

Sojitz

15/01/2024 22:28

(Adds details and background)
       Jan 16 (Reuters) - Rio Tinto  RIO.AX  said on Tuesday
its Dampier Salt joint venture will sell the Lake MacLeod salt
and gypsum operations in Western Australia to Leichhardt
Industrials Group, which is backed by former Dow Chemical boss
Andrew Liveris, for $251 million. 
    Leichhardt Industrials will be snapping up the Lake MacLeod
business which is one of three solar salt operations under
Dampier Salt - the world's largest exporter of seaborne salt.
    "The sale of Lake MacLeod will enable Dampier Salt to focus
on enhancing operational efficiencies at its remaining two
Pilbara operations, while allowing the new owner of Lake MacLeod
to maximise its potential," said Rio Tinto’s managing director
of port, rail and core services, Richard Cohen. 
    Dampier Salt is 68% owned by Rio Tinto, followed by Japanese
trading houses Marubeni  8002.T  and Sojitz  2768.T  which have
22% and 10% respectively.

 (Reporting by Rishav Chatterjee in Bengaluru
Editing by Matthew Lewis)
 ((Rishav.Chatterjee@thomsonreuters.com;))