Australian govt to get US$1B from Rio coal sale

RIO Tinto’s decision to exit the coal business has delivered the Australian government US$1 billion in transaction-based taxes.

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Australian govt to get US$1B from Rio coal sale Australian govt to get US$1B from Rio coal sale Australian govt to get US$1B from Rio coal sale Australian govt to get US$1B from Rio coal sale Australian govt to get US$1B from Rio coal sale

Rio Tinto CEO Jean-Sebastien Jacques.

The company completed the sale of its remaining coal assets in Queensland for $3.95 billion this week.
 
The transactions include the sale of Rio Tinto's interests in the Hail Creek coal mine and Valeria coal development project to Glencore for $1.7 billion, and its interest in the Kestrel underground coal mine to a consortium comprising private equity manager EMR Capital and PT Adaro Energy Tbk for $2.25 billion.
 
Rio Tinto CEO Jean-Sebastien Jacques said the sale of the remaining Australian coal assets delivered exceptional value to its shareholders. 
 
"Once again, I would like to thank the many people across Rio Tinto and the communities in which we operate who have contributed to the c...

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