The global mining giant has agreed to sell a majority stake in Queensland's Clermont thermal coal mine to Glencore-Xstrata and Sumitomo.

Rio Tinto has struck a deal with fellow mining giant Glencore-Xstrata and Japanese conglomerate Sumitomo for the sale of its 50.1 per cent stake in Queensland’s Clermont mine for a consideration of around USD$1.05 billion. Under the deal Glencore and Sumitomo will each obtain a 25.05 per cent stake in…