Previously, X2 Resources and Glencore were two major companies interested to buy the assets and the bid has now hot up with interest from Shenhua, New Hope and an unnamed mining private equity firm.
Rio Tinto is planning to sell assets including its Australian coal mines for the right price.
However, New Hope is only interested in part of the Rio business, sources familiar with the matter told the Australian Financial Review.
Previously, Australian Environment Minister Greg Hunt reviewed the government’s approval for China Shenhua Energy’s $1bn Watermark thermal and soft coking coal project.
Hunt announced the review due to mounting pressure from agricultural groups who are angry as the proposed mine is located in farmland.
Rio Tino previously rejected a takeover offer from Glencore, ignoring a deal that would have created a $160bn mining company.
