Rio is hoping to fetch as much as $4 billion in the sale of its thermal coal business, with Chief Executive Sam Walsh confirming that he would be open to a sale at the right price. Sources told The Australian Financial Review that Rio could reap up to $3.5 billion, although some of the companies in the data room have been suggesting the miner split the assets that are up for sale. New Hope and a private equity firm round out the six parties that have been in and out of the data room. Rio’s business in the Hunter, called Coal & Allied, is 20% owned by Mitsubishi.