Rio Tinto has tightened ties with China after selling its Australian coal assets to state-backed Yankuang Group for $2.69 billion, China Daily reported. “Instead of a simple deal between two companies in the coal sector, it shows Rio Tinto is hoping to expand its Chinese iron ore market,” said Mi Pengqi, an analyst at JLC Network Technology Co. Ltd., a commodity information provider based in Beijing.

Read the Whole Article Here