The Rio Tinto Group is all set to lessen its thermal coal business by disposing off most of its mining assets to a company controlled by the Chinese company—Yanzhou Coal Mining Company.
According to the inputs received, Rio Tinto is in the advance stages of selling its major mines to the company for $2.45 billion.
The sale will include Rio Tinto’s largest mines in the Hunter Valley region of Australia, to leave the company with only two coal mines.
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