Aug 2 (Reuters) - Miner Rio Tinto RIO.L is making good progress in the deal to sell its stake in the Simandou project in Guinea, Chief Financial Officer, Christopher Lynch said on Wednesday.
Citing the complexity of the deal due to three parties being involved, he said discussions were still underway.
The miner had signed a prelimnary deal to sell its stake in the project to China's Chinalco 3668.HK in October last year.
If the deal to sell to Chinalco goes ahead, Rio will receive payments of between $1.1-$1.3 billion based on the timing of the project's development, the company has said.