Rio is also considering the sale of its 40-per-cent stake in the Cortez joint venture in Nevada, which contains 11.1 million ounces of proven and probable gold reserves.

Toronto-based Barrick Gold Corp. is the operator and owner of the remaining 60 per cent of the mine and related development projects. Barrick spokesman Vince Borg said his company would be interested in buying the rest of the project, depending on the sale terms.

Barrick has "some preferential rights within the joint venture agreement," Mr. Albanese said.

Other Rio assets up for sale include the Greens Creek zinc, lead and silver mine in Alaska, the Sweetwater Uranium project in the United States and the Kintyre uranium project in Australia.