20
Mar
11:30
Glencore buys Rio coal mines
Glencore reports it has reached an agreement with Rio Tinto to buy its stakes in the Hail Creek and Valeria coal assets in Australia’s Queensland. Rio has been selling off its coal assets with only one operation remaining, Kallanish notes.
Glencore will pay $1.7 billion for 82% of the Hail Creek mine and surrounding assets, and 71.2% of the Valeria resource. The remaining shareholders in Hail Creek, Nippon Steel Australia, Sumisho Coal Development and Maru…
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Anonymous
Very good overview of the weekly steel market.
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