Ashton Canada put on the block

Vancouver — Having acquired the Australian diamond assets of Ashton Mining, diversified mining giant Rio Tinto (RTP-N) intends to sell its 65.9% stake in Ashton Mining of Canada (ACA-T).

RBC Dominion Securities has been hired by the parent company to solicit expressions of interest and to assist in completing any sale.

The Rio Tinto group already has a diamond exploration arm in Canada through its wholly owned subsidiary, Kennecott Canada Exploration. With its takeover of Ashton Mining, the major now holds controlling stakes in two Canadian diamond exploration companies that compete on the same turf.

Ashton Canada’s Board of Directors has established a special committee to ensure that any sale or transaction creates the maximum value for its shareholders.

Ashton Canada holds large exploration land packages in Alberta, Nunavut, the Northwest Territories, Quebec and Ontario.

Print


 

Republish this article

Be the first to comment on "Ashton Canada put on the block"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close