AUSTRALIA > Switzerland based Glencore is set to acquire Hail Creek Coal Mine and Valeria coal resource in Queensland, Australia for $1.7 billion  

glencore logo Swiss Glencore is set acquire Rio Tinto’s 82% interest in the Hail Creek coal mine and 71.2% interest in the Valeria coal resource in Central Queensland for a total cash consideration of $1.7 billion. Nippon Steel Australia Pty Ltd (8%), Marubeni Coal Pty Ltd (6.67%) and Sumisho Coal Development Pty Ltd (3.33%) own the remaining 18% of the Hail Creek More …