Glen­core coal mine pro­posal

The Star Early Edition - - INTERNATIONAL -

MINER and trader Glen­core said on Fri­day that it had sub­mit­ted a pro­posal to buy Aus­tralian miner Rio Tinto’s stake in Coal & Al­lied In­dus­tries for $2.55 bil­lion (R32.92bn) in cash. Glen­core said the deal would be funded from ex­ist­ing cash re­sources and would be paid in two stages. Glen­core also plans a pos­si­ble sale of up to 50 per­cent of its in­ter­est in Coal & Al­lied In­dus­tries. – Reuters

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