- Rio Tinto (RIO) is reportedly in advanced negotiations to sell its 50.1% holding in a coal mine in Australia to Glencore Xstrata (GLCNF; GLNCY) and Japan's Sumitomo (SSUMY; SSUMF) for around $1B.
- Glencore Xstrata and Sumitomo would each buy half of Rio's stake in the Clermont mine in the state of Queensland. The deal could be signed today.
- The sale is part of Rio's strategy of divesting assets as it looks to cut debt that reached almost $19B last year.
- Update: The sale is confirmed for $1.015B.
From other sites
Video at CNBC.com (Feb 12, 2015)
Video at CNBC.com (Feb 6, 2015)
at CNBC.com (Jan 19, 2015)
at CNBC.com (Jan 16, 2015)
at CNBC.com (Jan 14, 2015)
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