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Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio TintoRio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 billion, the major said on Tuesday, making good on a pledge to exit the fuel.

As reported by Reuters, the sale is Rio’s third coal deal this month. In total, the assets have raised $4.15 billion, which it said would be used for “general corporate purposes”.

Reuters further noted that, CEO Jean-Sebastien Jacques said in a statement the latest sale, combined with Glencore’s (GLEN.L) purchase of Hail Creek mine and the divestment of undeveloped coal projects would make Rio’s portfolio stronger and more focused.

Tuesday’s deal to sell Rio’s 80 percent stake in the underground coal mine in Queensland, Australia, is subject to regulatory approvals and is expected to be completed in the second half of 2018. Rio’s share price was up 2.1 percent by 1400 GMT, roughly in line with the broader index.


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Tuesday, 27 March 18
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Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
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