Billionaire Salim to Buy Rio's Coal Assets for $224 Million

  • MACH Energy acquires Mount Pleasant coal project in Australia
  • Deal brings Rio asset sales to $4.7 billion over three years

A company run by Indonesian billionaire Anthoni Salim agreed to buy Australian coal assets from Rio Tinto Group for $224 million, expanding in an industry suffering from a global glut and plunging prices.

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