Rio Tinto and Glencore spoke for months about deal that was once taboo
The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
China’s energy administration has approved a new coal mine project with an estimated cost of 4.8 billion yuan ($756 million) in the northern province of Shaanxi, it said on Tuesday.
The mine will have an annual production capacity of 3 million tonnes, the administration said.
($1 = 6.3489 Chinese yuan renminbi)
(By David Goodman)
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