Rio, Anglo aim to sell 75% stake in Palabora Mining valued at $700 million

South32, Orion Minerals, Perenti and DRA Global are among the winners.

Sources expect a final agreement to be reached in October.

United States Steel Corp. faces the prospect of being broken apart and sold in parts if Nippon Steel Corp.’s $14.1 billion takeover fails.

According to Rumbo Minero International, representatives of the Canadian mining company met with Argentine officials.