CUHRIG/E+ via Getty Images South32 (OTCPK:SOUHY) said Monday it secured approval from the Australian Foreign Investment Review Board for the sale of its Illawarra metallurgical coal assets to an entity owned by Golden Energy and Resources and coal trader M Resources. The $1.65B deal announced in February – comprised ofContinue Reading
BeyondImages/iStock via Getty Images Teck Resources (NYSE:TECK) +2.4% pre-market Friday after Canada’s government approved Glencore’s (OTCPK:GLCNF) (OTCPK:GLNCY) US$6.9B acquisition of a 77% stake in Teck’s metallurgical coal business. Industry Minister Francois-Philippe Champagne said Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) accepted several conditions to protect local jobs and keep executive offices in western Canada,Continue Reading
Indigo Division Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) is considering options to move forward with a sale of its coal business despite last weekend’s explosion at its flagship Grosvenor mine in Australia, including the possibility of selling individual assets or excluding the damaged operation from a potential deal, Bloomberg reported Tuesday. WhileContinue Reading
keni1/iStock via Getty Images Coal company stocks scored strong gains Monday following news of the weekend explosion at Anglo American’s Grosvenor steelmaking coal mine in Australia, which is expected to suspend production at the country’s largest metallurgical coal project for several months. Among the day’s big gainers: Peabody Energy (NYSE:BTU)Continue Reading
BeyondImages/iStock via Getty Images Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) -2.2% in London trading Monday after saying it has suspended production at its Grosvenor steelmaking coal mine in Queensland, Australia, following an underground coal gas ignition incident that caused a fire this weekend. Anglo (OTCQX:AAUKF) (OTCQX:NGLOY) said it expects production at itsContinue Reading
thamerpic/iStock Editorial via Getty Images U.K. asset manager Legal & General Investment Management said Wednesday it will sell some of its Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) shares because of concerns about its production of thermal coal. LGIM said its decision followed last year’s shareholder resolution at Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) that requested theContinue Reading
