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.
Rio Tinto confirms Yancoal as the preferred buyer of its thermal coal assets in Australia given high level of completion certainty and a further improved offer of AUS$2.69 billion.
Glencore submits fully funded proposal to acquire Coal & Allied from Rio Tinto and agrees conditional acquisition of Mitsubishi's interest in Coal & Allied mines.