Sumitomo, Glencore to buy 50.1 pct stake in Clermont mine from Rio Tinto

Posted on October 25, 2013 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Oct 25 (Reuters) – Japan’s Sumitomo Corp said on Friday it and Glencore Xstrata PLC will buy a 50.1 percent stake in the Clermont coal mine in Australia from Rio Tinto for $1.015 billion.

The acquisition is subject to customary closing conditions, including certain regulatory approvals, and is expected to close during the first quarter of 2014.

http://in.reuters.com/article/2013/10/25/riotinto-glencore-clermont-sumitomo-idINL3N0IF37R20131025