Rio Tinto asks court To ok sale of Partner’s Project

Global miner Rio Tinto is seeking court approval to sell its partner’s share of diamonds from a mine in canada’s Northwest Territories, a filing this week showed, hoping to recover around $120 million plus legal fees and other costs. rio owns 60 per cent of diavik diamond Mines Inc (ddmi) and says it is owed $119.5 million plus about $2.4 million in fees by junior partner dominion diamond ulc. dominion holds a 40 per cent stake in the northern mine, located about 300 kilometres north of yellowknife. closely held dominion sought creditor protection in April saying it could not afford rio’s cash calls amid coronavirus-related disruptions in the global diamond industry. A court hearing on the application is set for Oct. 30 in calgary.