Peabody Energy Corp.

Peabody Energy bids for ultra low sulfur coal reserves in Southern Powder River Basin

Peabody Energy announced the lease of 402 million tons of ultra low sulfur coal reserves adjacent to its North Antelope Rochelle Mine in the Southern Powder River Basin of Wyoming

Peabody Energy completes acquisition of Macarthur Coal

Peabody Energy (NYSE: BTU) today announced that it has completed the acquisition of all outstanding shares in Macarthur Coal Limited and holds 100 percent of the company.

Peabody acquires stake in Chinese coal importer

Peabody Energy (NYSE: BTU) on Thursday announced that it has acquired a 5.1 percent equity interest in Winsway Coking Coal Holdings Ltd. in a series of purchases of Winsway's shares on the Hong Kong Stock Exchange. The move further strengthens the strategic partnership between the two companies.

With $3.1 billion in fresh funding, Peabody moves operations HQ to Australia

Platts reports that the global operations headquarters of US giant Peabody Energy will be relocated to Brisbane following the acquisition of Australia's Macarthur.

Peabody raised $3.1 billion with the sale of senior notes on Monday and now owns 77.6% of Macarthur after ArcelorMittal pulled out of its joint $5 billion bid for the coking coal producer, just days after the target's top shareholder accepted the offer. Peabody is the world's largest private-sector coal company with 2010 sales of 246 million tons and nearly $7 billion in revenues.

Arcelor dumps dearer Macarthur on Peabody

Reuters reports ArcelorMittal has pulled out of its joint $5 billion bid with US giant Peabody Energy for Australian coking coal miner Macarthur, just days after the target's top shareholder accepted the offer and left the Indian steelmaker with a higher than expected cost.

Some observers were skeptical when Peabody and Arcelor raised their bid at at time coking coal prices have been falling and according to a new report could pull back to $240/tonne towards the end of next year. Now that it is flying solo Peabody may have to raise cash to fund the transaction. The deal also comes amid the planned introduction of an onerous carbon tax next year and rising labour costs in Australia thanks to the strong Aussie dollar.

Peabody, Arcelor willing to pay more for Macarthur even as coking coal heads to $240/tonne

Stock in US coal giant Peabody Energy and India's ArcelorMittal surged on Monday after their joint bidding vehicle secured a 59.85% stake in Australian metallurgical-coal miner Macarthur Coal and raised its offer for the whole of the company to $5.1 billion.

The deal comes despite the planned introduction of an onerous carbon tax next year which should put further pressure on Australia's miners already dealing with rising labour costs thanks to the strong Aussie dollar. The takeover is also amid falling coking coal prices which according to a new report is set to pull back to $240/tonne towards the end of next year from historic highs of $330/tonne.

Peabody Energy and ArcelorMittal receive final regulatory clearance to proceed with Macarthur Coal takeover

Peabody Energy BTU +3.19% and ArcelorMittal MT +3.36% today announced they have received clearance from the Ministry of Commerce of the People's Republic of China (MOFCOM) to proceed with the A$16.00 per share cash offer for all outstanding shares of Macarthur Coal Ltd (asx:MCC).

Peabody’s $4.7 billion takeover of Macarthur clears final regulatory hurdle

St. Louis Business Journal reports Peabody Energy on Thursday received clearance from the Ministry of Commerce of the People’s Republic of China to proceed with its and ArcelorMittal’s $4.7 billion takeover bid for Macarthur Coal Ltd. in Australia.

The Macurthur deal is good news for the US giant after it recently lost out on a chance to co-develop the world’s largest deposit of high-quality coking coal. Miners are scrambling for coal assets and coal for power-generation has averaged about $130/tonne this year from less than $100 in 2010 while metallurgical coal has been trading at record levels of $330/tonne.

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Mongolia re-opens bidding for world's biggest coking coal deposit

The Wall Street Journal reports Mongolia is relaunching talks with international miners on developing the western block of Tavan Tolgoi in the South Gobi desert, the world’s largest deposit of high-quality coking coal used in steelmaking.

Mongolia's National Security Council rejected a deal struck with US giant Peabody Energy, China's Shenhua and a Russian-Mongolian consortium mid-September, just two months after they were announced as winners. At the time losing bidders from Brazil, India and South Korea raised serious concerns and Japan went so far as to call the bidding process 'extremely regrettable'. Mongolia still hopes to privatize its Erdenes Tavan Tolgoi coal-mining company which controls the remainder of the 6 billion tonne resource for upwards of $3 billion next year.

Deal to build the world’s richest coal mine collapses

The China Post reports Mongolia's National Security Council has rejected a deal struck with foreign firms to develop the western block of Tavan Tolgoi in the South Gobi desert, the world’s largest deposit of high-quality coking coal used in steelmaking.

Metallurgical coal has been trading at record levels of $330/tonne this year and the news is a blow to US mining giant Peabody Energy, China's Shenhua and a Russian-Mongolian consortium that were announced as winners in July. At the time the losing bidders from Brazil, India and South Korea were smarting and Japan went so far as to call the bidding process 'extremely regrettable'. Mongolia was hoping to privatize its Erdenes Tavan Tolgoi coal-mining company which controls the remainder of the 6 billion tonne resource for $3 billion next year.

Patriot Coal and Peabody Energy benefit from favorable pricing environment

Coal producers are benefitting from skyrocketing demand and improved pricing of late. Meanwhile, Coal shortages in China and India are directly assisting US exporters and have played a major role in the better pricing environment.

Peabody declares force majeure on North Goonyella coking coal mine

Peabody Energy Corp cut its third quarter and full year earnings outlook because of a roof fall at one of its Australian mines where production will be halted for four to six weeks.

$5B deal for Australian coal company long awaited

The deal for Peabody Energy, the world's biggest private-sector coal company, and a partner to buy Australia's Macarthur Coal for more than $5 billion concludes more than a year of pursuit and continues widespread consolidation in that energy sector.

Anglo American could lose out to Mittal on Macarthur Coal

Anglo American is poised to lose out in the A$4.9bn (3.2bn) takeover tussle for Macarthur Coal after the Australian company recommended a sweetened offer from a consortium of US-based Peabody Energy and European steelmaker ArcelorMittal.

Battle royal for Macarthur Coal shaping up

The battle for Macarthur Coal is poised to intensify after news that Anglo American is considering a challenge to Peabody and ArcelorMittal's $4.7 billion hostile bid. Anglos, the world's fifth most valuable miner, is studying Macarthur's finances, media reported at the weekend.

Anglos has been restructuring aggressively under chief executive Cynthia Carroll (pictured) and with second quarter 2011 profits of $4 billion has the necessary cash. But a rumoured joint bid with China's Citic could turn out to be the decisive factor to beat Peabody and ArcelorMittal's offer as Citic has already built up a 24% stake in Macarthur.

Miners are scrambling for coal assets and coal for power-generation has averaged about $130/tonne this year from less than $100 in 2010. Coal now accounts for 30% of global energy use, the highest since 1970.

Peabody Energy and Yanzhou Coal Mining Co. enter into technology agreement to increase coal recovery from North Goonyella Mine

Peabody Energy (NYSE: BTU) today announced a new licensing agreement with Yanzhou Coal Mining Company for the installation of its Longwall Top Coal Caving (LTCC) technology to enhance recovery of metallurgical coal at Peabody's North Goonyella Mine in the Bowen Basin, Queensland, Australia. Yanzhou is a subsidiary of Yankuang Group Co. Ltd.

Macarthur Coal lures bidders as Peabody rouses China

Peabody Energy Corp. is leaving the door open for a rival bidder to step in for Macarthur Coal Ltd. by offering less for the Australian mining company than it did last year, even as profit is projected to double.

Building the world's largest coal mine turning into diplomatic disaster

China Briefing News reports state-owned Shenhua, the leader of a joint Chinese, Mongolian, Russian, and US consortium awarded the western block of Mongolia's Tavan Tolgoi coking coal field – the world's largest – faces a rocky road ahead to bring the project to fruition.

According to CBN the political structuring is typical but none of the three operators have given public explanations as to how they may proceed or even work together. While losing bidders from Brazil, India and South Korea are smarting, Japan have gone so far as to call the bidding process'extremely regrettable'.

And all this while Mongolia hopes to raise as much as $5 billion privatizing Tavan Tolgoi early next year.

6 bidders left in tussle for Mongolia's Tavan Tolgoi coal deposit

ArcelorMittal, Vale and Xstrata are among six bidders short-listed to develop Mongolia's Tavan Tolgoi mine, the world's largest untapped coking coal deposit, Mongolia said on Monday.
U.S. coal miner Peabody , a consortium of Chinese energy firm Shenhua and Japan's Mitsui & Co , and a separate consortium of Japanese, South Korean and Russian companies are the other preferred bidders, said Erdenes MGL, the government body which controls Tavan Tolgoi.