For thousands of years coal has been used as an important source of energy, including a crucial role as a driving force in the Industrial Revolution. Today, coal is the largest source of energy for electricity generation in the world. Coal provides 27 percent of global primary energy needs and
Coal Investing News reports Rio Tinto has more asset sales since February 2008.
Arch Coal has completed the acquisition of Rio Tinto’s Jacobs Ranch coal mine for a purchase price of approximately $764 million, which includes an estimate for working capital adjustments.
In 2008, Jacobs Ranch produced 42.1 million tons of sub-bituminous
Arch Coal has completed the acquisition of Rio Tinto’s Jacobs Ranch coal mine for $764 million. For Rio Tinto, under tremendous pressure to reduce its $42-billion debt, the selling spree has just got underway. Meanwhile, rival BHP Billiton is sitting pretty with $18 billion in cash, and is eyeing 5