Peabody 2011 earnings up 23%

Peabody Energy, the world’s biggest private-sector coal miner, on Tuesday posted a 5% quarter-on-quarter rise in earnings for the quarter ended December, as a jump in costs and charges related to its MacArthur Coal acquisition ate into profits....

Peabody expands Australian mines, ups output

US energy major Peabody Energy would increase seaborne coal production at its Wilpinjong and Millennium mines in Australia after expanding both operations. “The successful expansions of Wilpinjong and Millennium increase our annual thermal and...

Bandanna appoints new CEO

Coal explorer Bandanna Energy has appointed Michael Gray as CEO effective from the first quarter of 2012, at which time he would also joint the board as MD. Gray has more than 20-years experience in the planning and development of major mining...

Queensland unveils A$9bn Abbot Point ‘super expansion’

The Queensland government has announced plans for a “super expansion” of the Abbot Point port following overwhelming demand from the private sector. Premier Anna Bligh said that the state government had only expected to approve an expansion...

Codrilla coal project, Australia

Macarthur Coal has awarded the $85-million contract to construct the coal handling and processing plant.

Peabody takes full control of Macarthur Coal

US energy major Peabody Energy on Wednesday took full control of Australian miner Macarthur Coal, after passing its 90% acceptance threshold. Peabody has now begun a compulsory acquisition of all the outstanding shares of Macarthur Coal, and...

Macarthur bid declared unconditional

The joint venture (JV) acquisitions vehicle between Peabody Energy and ArcelorMittal, PEAMCoal, on Monday declared its takeover offer for ASX-listed Macarthur Coal unconditional, after satisfying the minimum acceptance condition. PEAMCoal has...

Citic Resources sells Macarthur Coal stake

US-based Peabody Energy and steel maker ArcelorMittal’s takeover of ASX-listed Macarthur Coal on Friday gained traction after shareholder Citic Resources accepted the offer. Citic said in a statement on Friday that its board had decided to...

Macarthur takeover extended yet again

The proposed takeover of ASX-listed Macarthur Coal by a joint venture (JV) vehicle between US-based Peabody Energy and steel producer ArcelorMittal has yet again been extended as the takeover offer struggled to gain traction. This was the third...

Macarthur Coal takeover extended again

US-based Peabody Energy and ArcelorMittal has again extended the takeover offer period for ASX-listed Macarthur Coal. The offer was now scheduled to close on October 28. The offer was initially scheduled to close on September 27, but was later...

Macathur takeover bid extended to October

US-based Peabody Energy and steel major ArcelorMittal have extended their joint takeover offer for Australian coal miner Macarthur Coal to October 14. Under the offer, which was initially scheduled to close on Sept 27, Peabody and ArcelorMittal...

Indian Mining Companies Flex their Muscles

Intierra Resource Intelligence notes that by mine output, India is the fourth largest producer of zinc, and the sixth largest producer of lead. However, the actual impact of Indian commerce on global mining is felt far more widely.