Glencore to sell Rolleston coal mine in AustraliaStaff Writer | August 28, 2017
Glencore said it has kicked off a bid to sell its Rolleston thermal coal mine in Australia, together with its joint venture partners, Japanese trading houses Itochu Corp and Sumitomo Corp.
Mining Glencore owns 75 percent of the Rolleston mine
“This decision is part of Glencore’s ongoing program to optimize its portfolio and redeploy capital into other opportunities,” Glencore said in a statement.
Glencore owns 75 percent of the Rolleston mine, with its Japanese partners each holding 12.5 percent.
Rolleston produced 13.3 million tonnes of coal in 2016, more than 10 percent of Glencore’s Australian managed coal production of about 93 million tonnes. ■