Glencore outbids Yancoal for Rio Tinto coal mines in Hunter Valley

June 9, 2017

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Glencore on Friday said it had bid for coal mines owned by Rio Tinto in Hunter Valley, Australia, offering $2.55-billion cash plus a coal price linked royalty, outbidding a previous offer from Yancoal.

In January, Rio said it was selling its interest in Coal & Allied Industries Limited to Yancoal Australia Limited for $2.45-billion.

Category: General