Vedanta Resources (VED.L) and India's Hindalco Industries Ltd. have separately evinced interest in buying part of Rio Tinto Plc.'s (RTNTF.PK,RIO,RIO.L,RTPPF.PK) iron ore operations in Canada, the Wall Street Journal reported, citing two people involved in the discussions.
It was reported earlier this month that Rio Tinto is planning to sell all or part of its 58.7 per cent stake in Iron Ore Company of Canada, which could fetch more than $1.7 billion.
Many foreign prospective buyers are said to be interested in these assets. Considering the size of the mines and their infrastructure, some potential bidders are believed to be mooting to mount joint offers.
Hindalco, run by India's Aditya Birla Group, is one of Asia's largest producers of primary aluminum.
RIO.L closed on Friday nearly unchanged at 3,312 pence.
VED.L closed down 0.8 percent at 1,160 pence.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.