, Columnist
Glencore's Coal Future Burns Bright
There's the rare opportunity to link up mines and improve output quality, plus questions over whether rival bidder Yancoal can raise the finance.
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Is Glencore Plc's last-minute bid for Rio Tinto Group's Australian thermal coal assets about quantity, or quality? It's a bit of both.
With a tenement footprint that's more or less surrounded by Glencore's own mines, Rio Tinto's Hunter Valley pits have long been an obvious target for the trader.