Rio Tinto sells majority stake in Ghana unit

Rio Tinto Alcan, the aluminium division of the global mining giant, has announced the sale of its controlling stake in the Ghana Bauxite Company to Chinese firm Bosai for an undisclosed amount.

"Rio Tinto Alcan announces that it has sold its 80 per cent share of the Ghana Bauxite Company Limited (GBC) to Bosai Minerals Group," it said in a statement.

The group, which did not disclose any financial details about the transaction, added that GBC was no longer part of its long-term strategy.

GBC, which operates in western Ghana's Bibiani Anhwiaso Bekwai District, employs nearly 300 people and produced about 800,000 tonnes of bauxite in 2008.