Glencore sells Australian coal mine to GFG Alliance [Seeking Alpha]
GLENCORE PLC UNSP/ADR (GLNCY)
US:NASDAQ Investor Relations:
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Source: Seeking Alpha
Glencore sells Australian coal mine to GFG AllianceGlencore (OTCPK:GLCNF,OTCPK:GLNCY)agrees to sell its Tahmoor underground coal mine in Australia, one of two Australian coal mines it put up for sale last year, to U.K. conglomerate GFG Alliance.Financial details are not provided, but Reuters reports the mine likely would fetch ~$100M.Glencore put the Rolleston and Tahmoor mines up for sale last year as the company seeks to consolidate its coal activities around its Australian Hunter Valley mines, which produce thermal coal used for power production.Click to subscribe to real-time analytics on GLCNFNow read:FTSE 100 Defensive Dividend Stocks Secretly Undergoing Corrections »
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