Rio Tinto Exploration sells Queensland licences
PERTH (miningweekly.com) – The exploration division of major Rio Tinto has sold off two coal exploration licences in Queensland to junior Mozambi Coal.
Mozambi paid Rio Tinto Exploration an initial cash consideration of A$375 000, and additional milestone payments of up to A$3-million were due upon the delineation of a measured resource in excess of 50-million tonnes, and upon the start of export shipments.
Read more at: http://www.miningweekly.com/article/rio-tinto-exploration-sells-queensland-licenses-2013-11-19
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