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Rio Tinto Said to Offer Canada Iron-Ore Operations for Sale

Rio Tinto Group offered its Canadian iron-ore operations for sale, according to a person close to the matter, as the second-biggest mining company seeks asset disposals to curb costs and bolster its balance sheet.

Rio hired Credit Suisse Group AG and Canadian Imperial Bank of Commerce to sell all or part of its 58.7 percent stake in Iron Ore Co. of Canada, said the person, who asked not to be named as the process is private. David Luff, a Melbourne-based Rio spokesman, said he wouldn’t comment on speculation.