https://www.engineeringnews.co.za

Rio sells NSW thermal coal mine for $224m

Rio sells NSW thermal coal mine for $224m

Photo by Bloombeg

27th January 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Mining major Rio Tinto has sold its Mt Pleasant thermal coal assets, in New South Wales, to MACH Energy Australia in exchange for $224-million plus royalties.

Mt Pleasant is a large-scale, thermal coal asset in the Hunter Valley with total marketable reserves of 474-million tonnes.

Following the recently announced binding agreement for Rio’s interest in the neighbouring Bengalla coal joint venture, the sale of the Mt Pleasant asset brought the amount of agreed sales to $830-million.

“These agreements for over $800-million in asset sales deliver significant value for our shareholders, with the potential for future royalties from Mt Pleasant,” said Rio Tinto copper and coal CEO Jean-Sébastien Jacques.

“We believe Mt Pleasant can have a very positive future under its new owners with different priorities for development and capital allocation.”

Since January 2013, Rio has announced or completed $4.7-billion of divestments.

The sale is subject to certain conditions precedent being met, including completion of the restructure of Coal & Allied and regulatory approvals, and is expected to close in the second quarter of 2016.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.07 1.233s - 140pq - 2rq
Subscribe Now