South32 buys stake in Canada’s Arizona Mining for $81 million

Australia’s South32 (ASX, LON, JSE:S32) is investing some of its $1.5 billion of cash in a minority stake in Canada-listed Arizona Mining (TSX:AZ), which plans to develop a zinc-lead-silver project in Arizona. Deal comes only two weeks after South32 walked away from a $200 million planned acquisition of Peabody Energy’s coal mine in New South Wales. As part of[…]

Coking coal price close to $300 a tonne on Australian disruptions

Coking coal prices closed the week 86% higher, climbing 34% on Friday alone to $283.10 a tonne, after damage caused by a cyclone that struck Australia’s north-east coast in late March has put supply at risk. One of the largest disruption to Australia’s coking coal exports in six years has caused a record surge in prices. Major producers including BHP[…]

Peabody Energy back to the NYSE as emerges from bankruptcy

US coal miner Peabody Energy (NYSE:BTU), the world’s largest privately owned producer of the fossil fuel, made a fresh debut on the New York Stock Exchange on Tuesday after emerging from an almost to the date year-long bankruptcy protection. Shares in the St. Louis-based company began trading at $31.50, but were already down 5.65% to[…]

Peabody announces plan to emerge from bankruptcy

Eastern US coal miner, Peabody Energy, filed a reorganization plan last week to emerge from bankruptcy. The plan was filed with the U.S. Bankruptcy Court for the Eastern District of Missouri. Peabody is targeting emergence around the beginning of the second quarter of 2017. “Today’s proposed plan is an important achievement in our path toward[…]

South32 looking for more coking coal mines

South32 (ASX, LON, JSE:S32), the Australian miner spun off from BHP Billiton last year, it’s interested in acquiring more coal mines producing the steelmaking kind, following its recent acquisition of Peabody Energy’s Metropolitan coal mine. The company, however, has decided to stay away from thermal coal assets due mainly to uncertainties over demand linked to climate[…]

South32 scoops up Peabody's Metropolitan coal mine in $200m deal

South32 (ASX, LON, JSE:S32) has finally scored a deal by grabbing Peabody Energy’s Metropolitan coal mine in Australia for $200 million. The BHP Billiton’s spin-off, which had been looking for assets to add to its portfolio for quite a while, mainly lithium and copper ones, said the deal includes a 17% interest in the Port Kembla[…]

Peabody Energy in restructuring talks with lenders, stakeholders — sources

Peabody Energy (OTCMKTS:BTUUQ), the world’s largest privately owned coal producer which filed for bankruptcy in April, is said to have taken the first steps towards a major restructuring following the release last week of a preliminary plan, sources familiar with the matter said. The company’s lawyers plan to hold a call with lenders before the end[…]