CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Rio Tinto 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 and Sojitz, which have 22% and 10% respectively.
(By Rishav Chatterjee; Editing by Matthew Lewis)
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