Rio Tinto Group completed its exit from coal with a bang, agreeing to sell more than USD 4 billion of Australian mines in just a week.
The world's second-biggest miner on Tuesday agreed to sell its last coal mine, the Kestrel operation in Australia's Queensland state, for USD 2.25 billion to private equity firm EMR Capital and Indonesia's PT Adaro Energy. That follows announcements last week that Rio will offload coal assets to Glencore Plc for USD 1.7 billion in cash and sell an undeveloped project.
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