Opened in 2010, Clermont open cut mine is located north west of Clermont in central Queensland and holds 177 million tons of thermal coal with an expected life span of 17 years as of 31 December 2012.
Rio Tinto Coal Australia manages the operations of Clermont mine on behalf of its joint venture partners, including Mitsubishi Development, J-Power Australia and J.C.D. Australia.
The sale is a part of Rio Tinto’s strategy to strengthen its balance sheet and taking a disciplined approach to allocate capital.
In October 2013, Glencore and Sumitomo have signed a deal to buy Clermont thermal coal mine interest.
Glencore Coal Assets head Peter Freyberg said at the time, "This investment epitomises our focus on identifying high quality assets that complement our existing operations and marketing capabilities.
"Going forward, we will seek to further expand our relationship with Sumitomo where there are mutually beneficial opportunities."
Rio Tinto said it completed a $2bn extension of the Kestrel mine last year, and is planning to extend the life of Hail Creek mine.
Image: A truck and loader at Clermont Mine, near the town of Clermont in Central Queensland. Photo courtesy of Mike Curtain / Rio Tinto Coal Australia.
