South Korea's LG bids for Queensland coal mine

South Korean company LG International has bid for Peabody Energy's Wilkie Creek coal mine in Queensland, reports The Australian, citing an unnamed source who spoke to Deal Journal Australia:

"The bid was tabled late April – just before Australian thermal coal prices slumped to a 21-month low on worries about an economic slowdown in China, the person said."

Peabody is hoping to earn $700 million for the 2Mtpa thermal coal mine, which could also have as potential bidders New Hope, and Thailand state-owned PTT, reported The Australian.

Continue reading here