Category: Rio Tinto

Australia’s fickle foreign investment regime could impact Yancoal acquisition

On 29 June, Rio Tinto’s shareholders met to give their final approval to the sale of the Australian Coal & Allied assets to Yancoal, a Chinese government owned coal company. However, despite Yancoal’s apparent confidence, it has yet to demonstrate how it is going to fund the planned acquisition, and has previously been criticised for ...

Rio Tinto board gathers to weigh up Glencore’s $US2.3b coal deal disruption

The Australian Financial Review has reported that “Rio Tinto’s board will meet on Tuesday morning to consider Ivan Glasenberg’s $US3.47 billion ($4.56 billion) attempt to disrupt Yancoal Australia’s acquisition of the Anglo-Australian’s last and best outpost in Australian coal, Coal & Allied. The unscheduled London board meeting, whose outcome remains the subject of deep uncertainty, ...

Glencore chief lobbies Rio to back its rival bid for coal assets

Original published by Scott Murdoch in The Australian Glencore executives have made a direct pitch to Rio Tinto bosses in London to convince the board to back its $US2.55 billion ($3.35bn) bid to buy the Coal and Allied ­assets in the Hunter Valley. Rio Tinto and the Swiss-based mining house held discussions at the weekend ...

Yancoal mega-deal under threat as Rio Tinto weighs up ‘superior bid’ from Glencore 

Chinese miner Yancoal’s ambitious bid for Rio Tinto coal assets in the Hunter Valley has suffered a major setback, following the surprise announcement of a rival offer from Anglo-Swiss heavyweight Glencore. The Glencore offer of US$2.55 billion for Rio Tinto’s Coal & Allied unit, which includes mines in the Hunter and a major stake in ...

Chinese Government considers rules on “irrational” debt-laden deals

The acquisition of Rio Tinto’s Coal & Allied assets by state-owned Chinese firm Yancoal has fallen under much scrutiny over the past few months – and now concerns have been raised about whether the Chinese government will allow the deal to go ahead.

Yancoal’s funding challenge to pay Mitsubishi for Rio mega-deal

Chinese-state miner Yancoal’s funding problems just got worse, after it offered US$710 million for Mitsubishi’s stake in a coal mine in Australia’s Hunter Valley.

Speculation rife on Rio Tinto’s Turquoise Hill acquisition

Rio Tinto took the reins of Turquoise Hill Resources (TRQ) back in 2011, buying up a controlling stake of 51 per cent.

Buyers circle potential Rio Tinto coking coal mine sale

Private equity firms and public companies are currently competing with each other over the sale of two Rio Tinto coking coal mines. Industry insiders believe that the acquisitions will give buyers the opportunity to get a foothold in one of this year’s strongest commodities. The official process for the mines, both located in Queensland, is ...

Mining giants scramble to fill key leadership vacancies

BHP Billiton, Rio Tinto and Anglo-American, three of the world’s biggest miners are all racing to fill the top spots on their boards, following announcements that their chairmen are stepping down.

Yanzhou: Yancoal Australia still not breaking even

Yanzhou Coal Mining general manager Wu Xiangqian has admitted that, despite market resurgence, Yancoal Australia is still failing to break even.