Rio to sell stake in China JV

Rio Tinto Group, the world's third-biggest mining company, plans to sell a 17 percent stake in a Chinese venture to partner Shenzhen Zhongjin Lingnan Nonfemet Co for $1.89 million.

Acquiring the stake from Rio Tinto will increase Zhongjin's holding in Nonfemet International (China-Canada-Japan) Aluminum Co to 72 percent from 55 percent, the Shenzhen-based company said yesterday.

Rio Tinto is looking to sell a combined 27 percent stake in Nonfemet International for $3 million, Zhongjin said.