Bühler GmbHCimbriaSailors SocietyTelestackThe Wolfson Centre for Bulk Solids Handling Technology TOC Events
  • TOC Events
  • Sailors Society
  • Vigan
  • Bühler GmbH
  • Cimbria
  • The Wolfson Centre for Bulk Solids Handling Technology

Rio sells its Kestrel coal mine

(Posted on 16/04/18)

Rio Tinto has entered into a binding agreement with a consortium comprising private equity manager EMR Capital (EMR) and PT Adaro Energy Tbk (Adaro), an Indonesian listed coal company, for the sale of its entire 80 per cent interest in the Kestrel underground coal mine in Queensland, Australia, for $2.25 billion.   Rio Tinto chief executive J-S Jacques said “The sale of Kestrel, together with the announced divestments of Hail Creek and our undeveloped coal projects, delivers exceptional value to our shareholders and will leave our portfolio stronger and more focused on delivering the highest returns through targeted allocation of capital.

“I would like to thank the many people at Rio Tinto and the communities where we operate, whose hard work and commitment has contributed to the success of the coal business over many years. I wish them continued success under new ownership.”

The transaction is subject to customary conditions precedent being satisfied, including the receipt of regulatory approvals from Australia’s Foreign Investment Review Board and the Queensland Government.

Subject to all regulatory approvals and other conditions precedent being satisfied, completion is expected to occur in the second half of 2018. It will bring the total amount achieved from the recent divestments of Rio Tinto’s Queensland coal assets to $4.15 billion, with the funds to be used for general corporate purposes.

Latest News

Bühler and Vyncke form strategic partnership

(Posted on 05/03/21)

Bühler Group and Vyncke have formed a strategic partnership to offer integrated solutions with... Read more


US steel imports down in January

(Posted on 01/03/21)

Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) has reported that... Read more


Bumper crop breaks GrainCorp records

(Posted on 01/03/21)

With the winter crop harvest close to completion on Australia’s east coast, GrainCorp is celebrating... Read more


Rio Tinto reiterates apology as annual report published

(Posted on 24/02/21)

Rio Tinto has published its 2020 Annual Report and its Sustainability Fact Book. These documents complement... Read more


Rusal becomes preferred supplier to Kosei

(Posted on 24/02/21)

Rusal, a leading global aluminium producer, has announced that it has been named the preferred global... Read more


Rusal acquires German aluminium producer

(Posted on 17/02/21)

Rusal a leading global aluminium producer, has announced that it has agreed to acquire the business... Read more


Low-carbon iron MoU signed

(Posted on 17/02/21)

Rio Tinto, Paul Wurth S.A. and SHS-Stahl-Holding-Saar GmbH & Co. KGaA (SHS) have signed a Memorandum... Read more


Ukraine’s agricultural export record

(Posted on 10/02/21)

The share of agro-industrial products in the general structure of exports from Ukraine in 2020 reached... Read more


Rusal operating results

(Posted on 10/02/21)

Rusal, a leading global aluminium producer, has announced operating results for the fourth quarter of... Read more


Global crude steel output decreases by 0.9%

(Posted on 04/02/21)

Global crude steel production reached 1,864.0 million tonnes (Mt) for the year 2020, down by 0.9% compared... Read more


Port of South LouisianaPort of StocktonTBA GroupViganPort of Vancouver USACleveland Cascades Ltd
  • Port of Vancouver USA

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping