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Rio Tinto sells Winchester South interests

Published by
World Coal,

Rio Tinto has completed the sale of its 75% interest in the Winchester South coal development project in Queensland (Australia), to Whitehaven Coal Limited.

Total consideration of AUS$200 million is comprised of AUS$150 million in cash received on 1 June and an unconditional cash payment of AUS$50 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 are expected to complete during the second half of 2018.

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Rio Tinto coal news