Original article by Scott Murdoch
The Australian – Page: 17 : 19-Jun-17

Rio Tinto will shortly decide which of two rival bids for its Hunter Valley coal assets it will support. Glencore has offered $US2.55bn ($A3.35bn) for the Coal & Allied assets, compared with a $US2.45bn offer from China-backed Yancoal. A team of Glencore executives led by global CEO Peter Freyberg held talks with Rio Tinto executives on the weekend of 17-18 June regarding the bid. Glencore expects significant synergies by combining the Rio assets with its existing coal mines in the Hunter Valley.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, YANCOAL AUSTRALIA LIMITED – ASX YAL, COAL AND ALLIED INDUSTRIES LIMITED, YANZHOU COAL MINING COMPANY LIMITED, PORT WARATAH COAL SERVICES LIMITED