Rio Tinto sells off Aussie assets

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Rio Tinto sells off Aussie assets

FTSE 100 miner Rio Tinto (LON:RIO) has completed the sale of its 75% interest in the Winchester South development project to Whitehaven Coal. The $200 million consideration for the deal will be paid entirely in cash, with $150 million up front and an unconditional $50 million due in 12 months’ time.

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The company confirmed that it expected the sale of three other Australian coal assets to be completed within the second half of 2018, which are expected to raise combined proceeds of around $3.95 billion.

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