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[…]

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[…]

Alpha Natural execs. face fraud charges for failing to disclose $100M in liabilities

West Virginia has accused Alpha Natural Resources executives of potential fraud for not reporting $100 million in liabilities during bankruptcy proceedings. West Virginia regulators argued that had the $100 million cash burden been known, it might have thwarted Alpha Natural Resources’ restructuring agreement approval. The state’s Department of Environmental Protection said the coal miner, which filed for bankruptcy[…]

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[…]