trending Market Intelligence /marketintelligence/en/news-insights/trending/RkeBy5M8dQTjEZ1V_ow7Fw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: Investor group sets sights on Rio Tinto's Queensland coal assets

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020


Report: Investor group sets sights on Rio Tinto's Queensland coal assets

A consortium of buyers is interested in bidding for Rio Tinto's Hail Creek and Kestrel coal mines in Queensland, Australia, which could fetch the miner about US$2 billion, Reuters reported Oct. 12, citing sources.

Apollo Global Management and Canada Pension Plan have teamed up with Xcoal Energy & Resources and a former Glencore Plc executive to make a play for the assets.

Anglo American Plc had expressed interest, but the waning outlook for metallurgical coal might discourage it from taking part in the sale. One of the sources added that Whitehaven Coal Ltd. is also likely to make an offer.

Credit Suisse is running the sale process, and interested parties have been invited to submit tentative offers by Dec. 8.

Earlier this year, Reuters reported that the mining giant was approached for its remaining coal mines in Australia after it agreed to sell its Coal & Allied Industries Ltd. unit to Yancoal Australia Ltd.

The sale is part of the miner's planned exit from coal to focus on iron ore, copper and aluminum.

Rio Tinto, Anglo American and Whitehaven declined to comment, the newswire noted.