Last month, Rio Tinto announced three separate deals that totaled $4.15 billion, which will complete its exit from coal. This includes $1.7 billion sale of its interest in Hail Creek and Valeria to Glencore, the $2.25 billion deal to sell Kestrel to Adaro Energy and EMR Capital and the $200 million transaction to sell Winchester South to Whitehaven Coal.

The Kestrel longwall mine, located in the Bowen Basin, 40 kilometers northeast of Emerald in central Queensland, Australia, produces high-quality coking and thermal coal products for export markets. In 2017, it produced 5.1 million metric tons (mt) of coal, comprising 4.25 million mt of hard coking coal and 840,000 mt of thermal coal. Rio Tinto reported marketable reserves for Kestrel of 146 million mt and mineral resources of 241 million mt.
Read the Whole Article in our Digital Edition