OREANDA-NEWS. Rio Tinto has completed the sale of its Mount Pleasant thermal coal assets to MACH Energy Australia Pty Ltd for US$220.7 million plus royalties.

Rio Tinto has now completed US$4.7 billion of divestments since January 2013.

The sale agreement has been amended to bring forward two payments originally scheduled eight and 16 months after completion. The agreement now includes a single payment on completion of US$195.7 million, a conditional payment of US$25 million, and royalties, payable quarterly at two per cent of Gross FOB Revenue for coal sold from existing reserve estimates at prices exceeding US$72.50/tonne.