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Rio Tinto’s sale of Australian coal assets has drawn interest from New Hope Corporation, potentially pitting it against Glencore and former Xstrata head Mick Davis, people familiar with the matter said. Full Article
“On 11 August, forward steam coal from Richards Bay, South Africa, on a free-on-board basis, was quoted at $54.60 a tonne, down 28% from a year ago, Bloombergdata show. However, in Australia, there could be further attempts at putting the coal projects back on track as the jobs that these mines will create in construction and operations could justify a renewed attempt to get it through, Bristow said. So, it maybe it is too early to write off the mega projects just yet.” Full article
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