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Glencore to buy Hail Creek for US$1.7B

GLENCORE has reached agreement to acquire Rio Tinto's 82% interest in the Hail Creek coal mine and adjacent coal resources, as well as its 71.2% interest in the Valeria coal resource in central Queensland for US$1.7 billion.

Lou Caruana
Glencore has acquired the Hails Creek mine in Queensland.

Glencore has acquired the Hails Creek mine in Queensland.

The acquisition will make Glencore a major Australian coal producer adding another than 9.4 million tonnes from Hail Creek to the company's 87Mt of saleable coal from its existing 17 operational mines...

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