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.
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Top 10 Coal Producing States & Regions
Week Ending (12/10/22) (in Thousand Short Tons) | YTD '23 | YTD '22 | % Change |
---|---|---|---|
Wyoming | 235,350 | 225,353 | 4.4 |
West Virginia | 79,412 | 74,293 | 6.9 |
Illinois | 35,865 | 35,149 | 2.0 |
Pennsylvania | 34,492 | 38,276 | -9.9 |
Montana | 27,777 | 26,965 | 3.0 |
Kentucky | 27,093 | 24,927 | 8.7 |
North Dakota | 25,887 | 25,165 | 2.9 |
Indiana | 21,527 | 18,396 | 17.0 |
Texas | 16,350 | 16,202 | 0.9 |
Colorado | 12,826 | 11,120 | 15.3 |
Appalachian Total | 151,306 | 147,194 | 2.8 |
Interior Total | 92,958 | 88,527 | 5.0 |
Western Total | 324,334 | 310,003 | 4.6 |
U.S. Total | 568,598 | 545,724 | 4.2 |