Glencore’s years-long pursuit for a bigger Australian coal business was delivered another setback on Monday after Rio Tinto Group passed on the company’s offer for a second time.
Now the mining giant run by a former coal trader is running out of time to come back with a better offer or lose out on a deal the company has chased since at least 2013. The mines are situated near Glencore’s own operations in the Hunter Valley, and the ability to work them together makes them an attractive prize.
