Rio Tinto completes Australian coal exit, updates guidance

Diversified giant Rio Tinto has updated its coal production guidance for 2018, following the completion of the sale of its remaining coal assets in Queensland, for $3.95-billion. The company on Wednesday announced that it had completed the sale of its interest in the Hail Creek coal mine, and the Valeria coal development, to fellow major Glencore, for $1.7-billion.