Rio Tinto set to quit Guinea iron ore project with sale to Chinalco

By Barbara Lewis and Rahul B LONDON/BENGALURU (Reuters) - Rio Tinto has signed a preliminary deal to sell its stake in Guinea's Simandou project to Chinalco, it said on Friday, injecting impetus into the long-stalled scheme to develop the world's largest untapped iron ore reserves. For all the project's potential, mining company Rio has voiced frustration over the difficulty of drumming up financing and industry sources said the agreement could open the door to Chinese funding. China, the world'