Rio Tinto wraps up Winchester South sell off for $200 million

Petrofac

UK’s Rio Tinto has completed the sale of its 75 percent interest in the Winchester South coal development project in Queensland, Australia, to Whitehaven Coal Limited.

Rio Tinto said in a statement that the total consideration of $200 million is comprised of $150 million in cash received today and an unconditional cash payment of $50 million due in 12 months.

The sale of Rio Tinto’s interests in the Kestrel and Hail Creek coal mines and Valeria coal development project are expected to complete during the second half of 2018