Rio Tinto May sell two French aluminum plants

Mining giant Rio Tinto PLC (RIO) is in exclusive talks to sell two French aluminum plants to privately-held German company Trimet Aluminium AG, French daily Les Echos reported in its Thursday edition, citing a statement by Industry Minister Arnaud Montebourg.

The plants employ around 460 workers, the newspaper said. Trimet bills itself as Germany's largest aluminum producer with 1,900 employees.

News of the possible sale comes after Rio Tinto replaced its chief executive recently, following a massive impairment hit on aluminum and coking-coal assets for last year that tipped the company to its first-ever annual loss.