Ravensworth and Narama Coal Interests Business Editors LONDON--(BUSINESS WIRE)--Dec. 20, 2001--Rio Tinto (NYSE:RTP).Rio Tinto's 73 per cent owned Coal & Allied Industries Limited has reached agreement to sell the Ravensworth/ Narama thermal coal complex to ENEX Resources Limited, a wholly owned subsidiary of Glencore International AG, for $US64 million in cash. The Ravensworth/Narama complex, located in the Hunter Valley in New South Wales, includes the Ravensworth East operation, Ravensworth West mining tenements, and Coal & Allied's 50% share of the Narama operation. ENEX Resources will also purchase land owned by Coal & Allied overlying the Ravensworth West mining tenements. The sale is subject to a number of conditions including regulatory approvals and customer consent to the transfer of coal supply contracts. Coal & Allied acquired these assets in January 2001 as part of its acquisition of the Peabody Group's Australian coal assets.
Rio Tinto's Majority Stake in Coal & Allied, Announces Sale of