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Rio Tinto's last two coal mines set to attract bids over $2.5 billion

Reuters  |  MELBOURNE/LONDON 

By Sonali Paul and Clara Denina MELBOURNE/LONDON (Reuters) - At least three bidders are expected to submit final offers for global miner Rio Tinto's Hail Creek and Kestrel coal mines in Australia, which could fetch up to $2.5 billion, people familiar with the process said.The Anglo-Australian mining company made a strategic decision in 2017 to exit coal and focus on growth in iron ore, copper and its aluminium division.Hail Creek and Kestrel are Rio Tinto's last two coal mines, following the $2.7 billion sale of its Hunter Valley coal operations in Australia to Yancoal last year.Australia's ...

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First Published: Fri, March 09 2018. 18:00 IST
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