A Rio Tinto spokesman was quoted as saying by the Wall Street Journal as saying that Perth-based Azure Capital was advising the company on the possible options for its Kiwi iron sands assets, and the options included a possible sale.
Rio Tinto’s move is part of its global review of assets amidst declining commodity prices.
Rio owns 60% stake in two deposits spanning more than 1,200 km2 off the west coast of the North Island, which it bought from Iron Ore New Zealand Ltd.
The company earlier posted an annual loss for the first time and is keen to offload some of its small scale and costly assets to improve margins.
Following the loss, the company stated that its focus will shift to returning greater value for its shareholders.
