Rio Tinto's last two coal mines set to attract bids over $2.5 bln: Reuters
At least three bidders are expected to submit final offers for global miner Rio Tinto’s Hail Creek and Kestrel coal mines in Australia, which could fetch up to US$2.5 billion, sources told Reuters. The Anglo-Australian mining company made a strategic decision in 2017 to exit coal and focus on growth in iron ore, copper and its aluminum division. Hail Creek and Kestrel are Rio Tinto’s last two coal mines. The expected bidders include a consortium led by U.S. private equity firm Apollo Global Management and that includes Canada Pension Plan Investment Board, strong>Xcoal Energy & Resources and a former Glencore executive.
9 March 2018•3 mins read
