Rio exits coal industry
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…