Rio Tinto to Sell Kestrel Mine for $2.25 billion
Photo: Rio Tinto
Global miner Rio Tinto (RTNTF) 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, Australia, is subject to regulatory approvals and expected to complete in the second half of 2018.
Reporting by Noor Zainab Hussain in Bengaluru
