Coal news and updates

Rio Tinto is poised to sell its Blair Athol coal mine in eastern Australia to Linc Energy Ltd., in a move to scale back exposure to a commodity that has suffered a steep fall in prices, a person familiar with the matter said Wednesday.

 

Discussions between the parties are advanced and a deal for the idle mine in Queensland state could be announced as soon as Thursday, the person said. Financial terms aren't known.

 

International resources companies such as Rio and BHP Billiton are selling smaller or less-profitable assets to boost shareholder returns after the end of a decadelong mining ...

 

Source: WSJ