Coal news and updates

Miner Rio Tinto said Wednesday it had completed the sale of its assets in Mozambique's Tete province to Indian state-run consortium International Coal Ventures Private Limited (ICVL).

 

All conditions had been met and all necessary regulatory approvals had been received for the sale of Rio Tinto Coal Mozambique, it said.

 

Rio announced the $50 million sale at the end of July. It includes the 60%-owned Benga coking coal mine and the Zambeze and Tete East greenfield coal assets.

 

ICVL is a joint venture between state-owned entities Steel Authority of India Limited (SAIL), Coal India Limited, Rashtriya Ispat Nigam Limited (RINL), National Minerals Development Corporation Limited (NMDC), and National Thermal Power Corporation Limited, set up to secure overseas coking and thermal coal assets.

 

 

Source: Platts