https://www.miningweekly.com
Business|Coal|rail|Service
Business|Coal|rail|Service
business|coal|rail|service

Glencore sells GRail for A$1.4bn

20th October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Miner Glencore has struck a A$.1.4-billion deal to divest of its rail coal haulage business in the New South Wales Hunter Valley.

The 40-million-tonne-a-year Glencore Rail (GRail) business has been sold to Genesee & Wyoming Australia, which will continue to service the majority of Glencore’s coal haulage requirements in the Hunter Valley under a 20-year contract.

The sale, which is subject to Foreign Investment Review Board approval, formed a "significant part" of Glencore’s debt reduction programme, the company said on Thursday.

The Australian Competition and Consumer Commission previously expressed concern about the sector, saying the sale of the assets was a rare opportunity to introduce competition in the rail business.

"The Hunter Valley coal haulage market appears to have high barriers to entry, so we would expect the addition of a third competitor to have a significant effect upon the market," commission chairperson Rod Sims said in a statement.

Edited by Creamer Media Reporter

Comments

Latest News

G Mining buys Reunion’s Guyana project
G Mining buys Reunion’s Guyana project
23rd April 2024 By: Mariaan Webb

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.13 0.175s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: