RIO TINTO EXITS ITS LAST COAL MINE

Mining major Rio Tinto has sold its last Australian coal mine in Queensland for $ 2.25 billion, making good its promise to exit fossil fuels. Rio’s stake in the Kestral mine has been sold to the private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk at a significant premium. It is the company’s third coal deal in March, and overall, these assets have brought in $ 4.15 billion.