International news within the industry of mining and metal, Sep, 20 2018
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Rio Tinto completes the sale of Winchester South for $200 million

Photo: Rio Tinto
Photo: Rio Tinto
Published by
Simon Matthis - 05 Jun 2018

Rio Tinto has completed the sale of its 75 per cent interest in the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal Limited.

Total consideration of $200 million is comprised of $150 million in cash received today and an unconditional cash payment of $50 million due in 12 months.

The sale of Rio Tintos interests in the Kestrel and Hail Creek coal mines and Valeria coal development project are expected to complete during the second half of 2018.