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Rio Tinto exits Mozambique coal in fire sale


Rio Tinto exits Mozambique coal in fire sale

Report summary

Rio Tinto has agreed to sell its Mozambique coal assets to International Coal Ventures Private Limited (ICVL) at a fire sale price of only US$50 million, having acquired Riversdale Mining for US$3.9 billion in 2010. Falling export coal prices, lower processing yields, resource overestimates and objections to barging infrastructure have all contributed to the large write-off. The assets being sold include a 65% interest in the Benga coal mine, a 100% interest in the Zambeze project...

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  • Rio Tinto exits Mozambique coal in fire sale PDF - 946.56 KB 2 Pages, 0 Tables, 1 Figures

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