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Rio still keen on Yancoal sale

Glencore (LN:GLEN) had seemingly swept in at the last minute to ruin Yancoal Australia’s (AU:YAL) purchase of Rio Tinto’s (LN:RIO) Hunter Valley coal mines by offering US$100 million more for them.

Alex Hamer
Harvesting cash: Rio will get its US$2.45b all at once now from Yancoal

Harvesting cash: Rio will get its US$2.45b all at once now from Yancoal

Rio has announced it will stick with Yancoal despite the lower $2.45 billion offer as it has government approval and will pay in cash all at once, as the Chinese government-backed company will stump up...

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