Rio Tinto to Sell Kestrel Mine for $2.25 billion
Global miner Rio Tinto said on Tuesday it had agreed to sell its Kestrel coal mine to private equity manager EMR Capital and Indonesian coal company Adaro Energy Tbk for $2.25 billion. The Anglo-Australian mining company made a strategic decision in 2017 to exit coal and focus on growth in iron ore, copper and its aluminium division. The deal to sell the underground coal mine in Queensland…
Glencore Acquires Rio Tinto's Hail Creek Coal Mine
Glencore consolidating in coal as Rio exits; Rio Tinto shares rise 0.9 pct, Glencore slips. Glencore is buying Rio Tinto's Hail Creek coal mine and the Valeria coal project in Australia for $1.7 billion, tightening the Swiss trading and mining giant's grip on coal as its rivals exit the industry. The acquisition, announced by both companies on Tuesday, follows Glencore's purchase of half of Rio Tinto's Hunter Valley coal operations…
