06
Nov
10:03
Peabody to offload Australian coking coal mine
Bankrupt coal mining giant Peabody Energy announced this week one of its Australian units has agreed to sell its Metropolitan Mine in New South Wales, Australia. It will offload this and its associated 16.67% interest in the Port Kembla Coal Terminal to a South32 Ltd. subsidiary for $200 million in cash.
The transaction also includes a so-called contingent value right. This allows Peabody to realise additional cash should future metallurgical coal prices remain …
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