Rio Tinto completed the sale of its 75% interest in the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal Ltd.
The diversified miner received the initial US$150 million cash of the total US$200 million price tag, with the remaining US$50 million due in 12 months.
Rio Tinto also said June 1 that the sale of its interests in the Kestrel and Hail Creek coal mines and Valeria coal development project are expected to complete during the second half this year.
Whitehaven is also acquiring the remaining 25% stake in Winchester South, held by Australian investment trust Scentre Group.
