RNS Number : 3327G
Rio Tinto PLC
04 August 2016
Rio Tinto completes sale of Mount Pleasant thermal coal assets
5 August 2016
Rio Tinto has completed the sale of its Mount Pleasant thermal coal assets to MACH Energy Australia
Pty Ltd for US$220.7 million plus royalties.[1]
Rio Tinto has now completed US$4.7 billion of divestments since January 2013.[2]
Contacts
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Media Relations, EMEA/Americas
Illtud Harri
T +44 20 7781 1152
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David Outhwaite
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David Luff
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Investor Relations, EMEA/Americas
John Smelt
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M +44 7879 642 675
David Ovington
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Grant Donald
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M +44 7920 587 805
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Media Relations, Australia/Asia
Ben Mitchell
T +61 3 9283 3620
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Bruce Tobin
T +61 3 9283 3612
M +61 419 103 454
Matthew Klar
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Investor Relations, Australia/Asia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462
Rachel Storrs
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M +61 417 401 018
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Rio Tinto plc
6 St James's Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
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Rio Tinto Limited
120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
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[1] The sale agreement has been amended to bring forward two
payments originally scheduled eight and 16 months after completion. The agreement now includes a single payment on completion
of US$195.7 million, a conditional payment of US$25 million, and royalties, payable quarterly at two per cent of Gross FOB
Revenue for coal sold from existing reserve estimates at prices exceeding US$72.50/tonne. This new agreement sees the total
unconditional payments decrease by approximately $3.3 million. The proceeds of the sale will be used for general corporate
purposes. As of 30 June 2016, the project had gross assets valued at US$137 million and year to date profits of
US$243,000.
[2] Amount is before finalisation of net debt and working capital
adjustments.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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