22
Mar
14:09
Rio sells Winchester to Whitehaven
Just after agreeing to the sale of coal mines to Glencore, Rio Tinto has now agreed to sell the undeveloped Winchester South coal project to Whitehaven Coal. The miner still has one coal mine, Kestrel, to sell off, Kallanish notes.
The deal is worth $200 million, $150m of which is on completion of the deal with another $50m twelve months later. Rio has a 75% stake in Winchester South which will be transferred completely to Whitehaven, with The Scentre Group hold…
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Anonymous
Very good overview of the weekly steel market.
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