March 20, 2018 / 8:13 AM / 6 months ago

BRIEF-Rio Tinto To Sell Hail Creek And Valeria To Glencore for $1.7 Bln

March 20 (Reuters) - Rio Tinto Ltd:

* RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA

* ENTERS INTO BINDING AGREEMENT WITH GLENCORE FOR SALE OF ITS ENTIRE INTERESTS IN HAIL CREEK COAL MINE AND VALERIA COAL DEVELOPMENT PROJECT

* ‍SALE INCLUDES RIO TINTO'S 82.0 PER CENT INTEREST IN HAIL CREEK OPERATING MINE AND ITS 71.2 PER CENT INTEREST IN VALERIA PROJECT​

* ‍DEAL FOR $1.7 BILLION​

* ‍SEPARATE PROCESS UNDERWAY TO SELL RIO TINTO'S REMAINING AUSTRALIAN COAL ASSETS​

* COMPLETION EXPECTED IN SECOND HALF OF 2018

* CURRENTLY ESTIMATED TAX PAYABLE ON SALE PROCEEDS IS IN ORDER OF $300 MILLION​ Source text for Eikon: Further company coverage:

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