Short news minerals
June 27, 2013 Category Automotive Metals & Minerals, Short news minerals
- China’s state-owned Shenhua Group Corp and India’s Aditya Birla Group are among the companies considering bids for Rio Tinto’s Australian coal assets, which have an estimated value of USD3.2 billion. Rio is offloading the assets as its new Chief Executive, Sam Walsh, seeks to raise funds to help cut the company’s USD26 billion in debt and protect its single-A credit rating. Rio Tinto is selling a 29% stake in its Coal & Allied business and its majority stake in the Clermont mine in Queensland state. Rio Tinto’s Australian coal assets are valued at an estimated USD3.2 billion.
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