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Deals Rumor Mill: Rio Tinto, CVC Capital, Glencore Xstrata

By Karlee Weinmann (June 5, 2013, 2:18 PM EDT) -- Rio Tinto Ltd. is expecting a pair of bids for a majority stake in one of its Australian copper mines — an interest it believes could fetch as much as $800 million, according to a Tuesday report from Reuters. The 80 percent ownership share of the Northparkes mine is one of several assets Rio Tinto put up for sale in order to bring in new cash earmarked for paying down debt. OZ Minerals Ltd. and MMG Ltd. are expected to step forward with bids in an auction Rio Tinto is hoping to wrap up by the end of the month....

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