01
Jun
11:00
Adaro receives approval for purchase of Kestrel
Indonesia’s Adaro Energy has secured a permit to buy Rio Tinto’s 80% stake in Australia’s Kestrel coking coal mine. The move would mark the end of Rio’s coal operations as it has also announced the completion of a deal to sell Winchester South, Kallanish notes.
The $2.25 billion deal would see Adaro take 48% of Rio’s 80% stake, leaving it with just under 40% of the mine. It’s joint venture partner EMR Capital would take the re…
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Very good overview of the weekly steel market.
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