Sept 1 (Reuters) - Rio Tinto Ltd (RIO)
- Rio Tinto completes divestment of Coal & Allied
- Yancoal takes over management of Rio Tinto's thermal coal business in Hunter valley region of New South Wales.
- Will receive total consideration of $2.69 billion for sale
- Group's guidance for thermal coal production in 2017 has been revised to 13-14 million tonnes, from 17-18 million tonnes previously
- Rio Tinto will use consideration received for general corporate purposes and group's capital allocation framework will be applied
- Under terms of sale, Rio Tinto may also receive an additional royalty linked to coal price capped at $410 million
- "Taxable gain on disposal of these assets is expected to be largely offset by carried forward capital losses in Australia"
- Cash tax payable is expected to be relatively low compared to quantum of taxable gain
- Says a further $90 million in royalty is expected before end of 2018
Sept 1 (Reuters) - Rio Tinto Ltd (RIO) Rio Tinto completes...
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