Agreement by Coal & Allied Industries To Purchase 20 Per Cent Interest in Warkworth Coal Mine.Business Editors LONDON--(BUSINESS WIRE)--March 21, 2001 Rio Tinto Rio Tinto may refer to:
See: New York Stock Exchange : RTP (1) (Rapid Transport Protocol) The protocol used in IBM's High Performance Routing (HPR) system. (2) (Realtime Transport Protocol) An IP protocol that supports real time transmission of voice and video. ). Coal & Allied Industries, an Australian public company, which is 70.9 per cent owned by Rio Tinto, issued the following in Australia today. Coal & Allied Industries Limited announced today that it has reached agreement with Ticor Limited for the purchase of Ticor's 20 per cent share of the Warkworth mine in the Hunter Valley, New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. , for a sale price of A$87.5 million, net of debt. The sale, which is effective from 29 January 2001, is subject to pre-emptive rights held by other shareholders of Warkworth. If Coal & Allied purchases the total Ticor shareholding of 20 per cent, this will increase the company's interest in the Warkworth mine to 63.75 per cent. |
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