Rio Tinto Sells Gold Investment As Gold Price Nears US$1000

Late last week, Rio Tinto (ASX: RIO) announced it was selling its 40% stake in the Cortez gold project in the U.S. state of Nevada to major gold producer Barrick Gold (NYSE: ABX) for US$1.7 billion. Barrick gets 4.6 million ounces of additional proved and probable reserves at Cortez, where it’s cash-cost of production is […]