Mar 23, 2018

Whitehaven to pay $200m for Winchester South

Whitehaven Coal will take on Rio Tinto’s 75 per cent interest in the Winchester South coal development project, 30km south-east of Moranbah, for $200 million. Total consideration is comprised of $150 million payable to Rio Tinto by Whitehaven on the date of completion and a further unconditional payment of $50 million payable 12 months after the date of completion. The news comes after an announcement this week that Glencore is buying Rio Tinto’s majority stake in the Hail Creek coal mine and adjacent coal resources, as well as its 71.2 per cent in...

Read More

Recent Stories

Subscribe to IQ Now