I have been told that on around the 10th or 11th of this month it will be announced that the remaining Rio Tinto coal mines in NSW (run under the moniker of Coal and Allied) have been sold for a not too bad sum of money.
This follows on from the Rio Tinto stake in Bengalla being sold a while back (which was about a 40% piece of the mine).
The remaining assets - Hunter Valley Operations, Mt Thorley Warkworth and the as yet untapped Mt Pleasant are also apparently sold to other companies with speculation that a contract miner will be invited to be the operator at one of the above mentioned operations (not Mt Pleasant).
Unsure what to think of this as Coal and Allied was an all Australian company with origins in the 1800's (originally J & A Brown) before being fully soaked up by Rio a few years back
Still, it removes a lot of constraints from them and frees up a fair bit of spending money.
NSW Coal Assets Sold
Add RIO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$124.27 |
Change
3.160(2.61%) |
Mkt cap ! $46.13B | |||
| Open | High | Low | Value | Volume |
| $123.61 | $124.65 | $123.05 | $175.4M | 1.414M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 88 | $124.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $124.28 | 1941 | 2 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |