Coal news and updates

Talks stall for Rio Tinto stake in coal mine

Talks stalled over the sale of Rio Tinto's majority stake in an Australian coal mine, after three bids failed to meet expectations, people familiar with the matter said.

Adani Mining Pty. Ltd., the Australian unit of India's Adani Enterprises Ltd., offered less than 850 million Australian dollars (US$792 million) for Rio Tinto's stake in the Clermont mine in Queensland state, one of the people said.

Galena Private Equity Resource Fund also bid less than A$850 million for the 50.1% stake in the mine, which produces mostly coal for use in power generation, another person said. ...

Source: The Wall STreet Journal