Shell Sale Update

Staff Reporter

The latest word on the sale of Shell's $1 billion coal assets is that Anglo American will be most likely to pick up the parcel.

Negotiations over the sale of the Shell coal assets are now in their final stages in London. Last week the rumours were that Rio Tinto, along with MIM and Glencore had formed a consortium to bid for the assets, which together total 18 million tonnes of annual coal production from the Hunter Valley, Queensland's Bowen Basin and Venezuela. Industry sources believe this consortium is no longer in the running.

German group RWE is meanwhile believed to have withdrawn from the process.