Tag: Hail Creek

The Kestrel mine in central QLD. Image: Rio Tinto. BY ELIZABETH FABRI RIO Tinto has completed its exit from the coal industry after agreeing to sell its remaining QLD coal assets for $US4.15 billion.   The mining giant has been on a selling spree in recent years, letting go of assets such as its $US2.7 billion Hunter Valley Operations (HVO) to focus on growth in iron ore and copper. In March, Glencore was named the winning bidder for Rio’s 82 per cent interest in Hail Creek open cut mine and its 71.2 per cent interest in the undeveloped Valeria project, paying $US1.7 billion for the assets. Days later, Rio entered a binding agreement to sell its 75 per cent interest…

Rio Tinto’s Hail Creek coal mine. Image: Rio Tinto. BY CAMERON DRUMMOND THE QUEENSLAND Government has proposed changes would make sure large mines across the State are properly rehabilitated, protecting the environment and creating more jobs in the resource services industry. Speaking during a visit to Rio Tinto’s Hail Creek coal mine, south-west of Mackay, QLD environment minister Steven Miles said the changes to financial assurance and rehabilitation would apply to new and existing mine operations. “These next generation laws will ensure taxpayers are no longer left to foot the bill for failed mines or stranded assets,” Mr Miles said. “For the first time mines will be expected to progressively rehabilitate as land becomes available for rehab, and their performance…