Indonesia's Anthoni Salim to buy Rio Tinto's coal assets for US$224m
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Sydney
A COMPANY run by Indonesian billionaire Anthoni Salim agreed to buy Australian coal assets from Rio Tinto Group for US$224 million, expanding in an industry suffering from a global glut and plunging prices.
The sale of the Mount Pleasant coal project in New South Wales to MACH Energy Australia Pty also includes potential royalties in the future, Rio said on Wednesday. The deal follows Rio's agreement last year to sell a stake in the Bengalla coal venture in Australia to New Hope Corp for US$606 million and brings its asset sales to US$4.7 billion over the past three years.
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