Rio sells aluminium business

FTSE 100 miner Rio Tinto has finalised the $151m (£95m) sale of its North American arm of the aluminium wire and cable manufacturer Alcan Cable business to General Cable Corporation. Meanwhile, the sale of its Tianjin operation in China is expected to close later this year for $34m. It follows the plans announced last year by the mining giant to sell 13 aluminium operations in Australia, Europe and the US to reduce the Alcan business.