28
Jul
12:36
Glencore secures Hunter Valley stake, reversing earlier defeat
Glencore says it has signed a deal to buy 49% of the Hunter Valley Operations from Yancoal once the Chinese miner has bought the operation from Rio Tinto. Although the deal is a coup for the company so soon after its bid for Hunter Valley was rejected by Rio, the deal has come at a high price, Kallanish notes.
Glencore will pay $1.139 billion for the 49% stake from Yancoal Australia and Mitsubishi. The mine is currently majority owned by Rio’s Coal & A…
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Anonymous
Very good overview of the weekly steel market.
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