Rio Tinto: sells Australian mines to Glencore
(CercleFinance.com) - Australian mining giant Rio Tinto has signed a 1.
7 billion dollar deal for the sale of its entire stake in the Hail Creek Coal Mine and the Valeria Project in Australia to Glencore group.
It said in a statement that the sale includes Rio Tinto's 82% stake in the Hail Creek mine which is currently being operated and its 71.2% interest in the Valeria project.
The transaction is expected to be finalised in the second half of 2018, subject to normal terms and conditions.
Alongside this, Rio Tinto says that the process of selling its other coal assets in Australia is concurrently underway.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
7 billion dollar deal for the sale of its entire stake in the Hail Creek Coal Mine and the Valeria Project in Australia to Glencore group.
It said in a statement that the sale includes Rio Tinto's 82% stake in the Hail Creek mine which is currently being operated and its 71.2% interest in the Valeria project.
The transaction is expected to be finalised in the second half of 2018, subject to normal terms and conditions.
Alongside this, Rio Tinto says that the process of selling its other coal assets in Australia is concurrently underway.
Copyright (c) 2018 CercleFinance.com. All rights reserved.