Rio shareholders throw weight behind Yancoal offer

The shareholders of mining major Rio Tinto on Thursday overwhelmingly voted in favour of the company’s plans to divest its Coal & Allied (C&A) assets to China-controlled Yancoal Australia. Some 97.2% of the total votes cast at a general meeting were in favour of the revised proposal from Yancoal, under which the ASX-listed company was offering $2.69-billion for the C&A assets.