Rio Tinto has awarded Perth-based company Mondium a contract valued at approximately AUS$400 million for the design and construction of a mine in Western Australia.
Through the sale of Rio Tinto assets, the Queensland coal industry will continue to generate the jobs and export revenue that keeps the state strong.
In the past week, Rio Tinto has announced three separate deals that complete its exit from coal. In this article, Viktor Tanevski, a senior research analyst at Wood Mackenzie, offers his analysis.
The underground coal mine in Queensland, Australia has been sold to EMR and Adaro for US$2.25 billion.
Rio Tinto reports its 3Q17 hard and semi-soft coking coal, as well as thermal coal production results.
Chris Lynch intends to retire from Rio Tinto as the Chief Financial Officer at the end of September 2018.