In­vestors bid for Rio Tinto coal mines

Business Day - - INTERNATIONAL COMPANIES -

A group of in­vestors in­clud­ing buy­out firm Apollo and pen­sion fund Canada Pen­sion Plan is bid­ding for coal as­sets up for sale by Rio Tinto, which could fetch $2bn, sources said. The sale of the Kestrel and Hail Creek mines is part of Rio’s planned exit from Aus­tralian coal to fo­cus on iron ore, cop­per and alu­minium.

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