Rio Tinto says sale of Iron Ore Company of Canada is not a necessity

LONDON, Feb 13 (Reuters) - Rio Tinto RIO.AX RIO.L , the world's third largest miner, said on Thursday that the sale of its stake in Iron Ore Company of Canada (IOC) is not essential but it would consider any valuable offers for the asset.

"We do want to continue to rationalise (our portfolio) but this is absolutely about value, we are not about to do something silly to tick a box," Chief Executive Sam Walsh said.

"For IOC, if somebody wants to offer a big cheque that's fine but we don't need to sell any major business."

IOC is currently 59 percent owned by Rio Tinto, 26 percent by Mitsubishi Corporation and 15 percent by Labrador Iron Ore Royalty Company.

(Reporting by Silvia Antonioli; Editing by Greg Mahlich)

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Keywords: RIO TINTO/