Glencore eyes 81Mt/y Hunter Valley coal play with surprise bid for Rio Tinto mines

June 11, 2017

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Diversified miner Glencore has made a surprise $2.5-billion bid for miner Rio Tinto’s 100% interest in its Coal & Allied subsidiary, rivaling a bid from ASX-listed Yancoal which launched a $2.45-billion offer in January.

Glencore’s offer consisted of $2.05-billion in cash and $500-million in aggregate deferred cash payments, which will be payable as yearly installments of $100-million over five years, following the completion of the transaction.

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