Rio Tinto Limited (ASX:RIO) has reportedly put its Australian thermal coal assets up for sale after its new chief Sam Walsh flagged it will divest non-core operations earlier this year.
According to media reports the global mining company has appointed Deutsche Bank to investigate selling down parts of its Queensland and New South Wales coal operations.
The Australian coal businesses are understood to be valued at about $16 billion but have been recently impacted by a strong Australian dollar and weaker coal prices.
The Wall Street Journal says Rio is considering divesting its 50.1 per cent stake in the Clermont and Blair Athol thermal coal operation in central Queensland and cutting its Coal & Allied Industries stake to 51 per cent.
Rio Tinto reported a net loss of $2.9 billion in the 2012 financial year.
