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Sumitomo, Glencore to buy 50.1 pct stake in Clermont mine from Rio Tinto
October 25, 2013 / 10:08 AM / 4 years ago

Sumitomo, Glencore to buy 50.1 pct stake in Clermont mine from Rio Tinto

TOKYO, Oct 25 (Reuters) - Japan’s Sumitomo Corp said on Friday it and Glencore Xstrata PLC will buy a 50.1 percent stake in the Clermont coal mine in Australia from Rio Tinto 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.

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