01 JUNE 2018Rio Tinto Press Release
Rio Tinto completes the sale of Winchester South for $200 million
Edited by : AL CIRCLE
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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 Tinto’s interests in the Kestrel and Hail Creek coal mines and Valeria coal development project are expected to complete during the second half of 2018.
Mining giant Rio Tinto announced their agreement to sell its 75% interest in the Winchester South coal development project in Queensland to Whitehaven Coal for $200 million in March 2018.
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