Rio Tinto considers float of Canadian iron-ore business

Rio Tinto, the world's second largest listed mining company, is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources said, as it focuses on boosting revenue from its flagship Australian assets. Iron-ore, which accounts for most of Rio's profit and is used in making steel, has provided healthy margins for years but the outlook is uncertain as major buyer China is expected increasingly to rely on recycling rather than importing raw material.