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Rio Tinto raises coal reserves at Australia's Kestrel mine

Published 09/07/2017, 08:07 AM
© Reuters.  Rio Tinto raises coal reserves at Australia's Kestrel mine
RIO
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  • Rio Tinto (NYSE:RIO) increases its estimate of coal reserves by 50% at its Kestrel mine in Australia, amid speculation the operation has been put up for sale.
  • Rio says it now estimates ore reserves at the mine in central Queensland at 185M metric tons, up from 123M metric tons previously.
  • Rio owns an 80% stake in Kestrel, which produces ~5M metric tons/year of coal and is one of several Australian coking coal assets the company reportedly has placed on the market.
  • Now read: Buying Stocks For A Dividend Growth Portfolio: Part 2b More Examples

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