Winchester South sold for USD200m

Rio Tinto has sold the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal.

Rio
Image credit: Pixabay

Rio used to hold a 75% stake in the development project. Total consideration of USD200-million is comprised of USD150-million in cash received today and an unconditional cash payment of USD50-million due in 12 months.

The sale of Rio Tinto’s interests in the Kestrel and Hail Creek coal mines and Valeria coal development project is expected to be complete during the second half of 2018.


 

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