Sumitomo, Glencore to buy 50.1 percent stake in Clermont mine from Rio Tinto
TOKYO (Reuters) - Japan's Sumitomo Corp (8053.T) said on Friday it and Glencore Xstrata PLC (GLEN.L) will buy a 50.1 percent stake in the Clermont coal mine in Australia from Rio Tinto (RIO.AX)(RIO.L) for $1.015 billion.
The acquisition is subject to customary closing conditions, including certain regulatory approvals, and is expected to close during the first quarter of 2014.
(Reporting by Osamu Tsukimori and Yuka Obayashi; Editing by Michael Urquhart)
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