A delegation from Anglo-Australian mining giant Rio Tinto visited the facilities of one of Russia's largest potash miners Uralkali with a view to purchasing part of the firm, said on Wednesday.
AThe participants in the group that arrived late last week are not known, but Russian billionaire Suleiman Kerimov, who controls Uralkali, flew in to join it on Monday.
AVedomosti sources say that Rio Tinto refrains from using the term due diligence when discussing the visit. However, the mining giant became interested in Uralkali shares in June, immediately after Dmitry Rybolovlev sold his controlling stake to Kerimov, Polymetal head Alexander Nesis and Eurocement head Filaret Galchev.
A source close to the three owners told Vedomosti that Rio Tinto was prepared to buy 10-15 percent of Uralkali for an estimated $15 billion.