The Perth-based miner has agreed to purchase 45 million shares of the Canadian junior at a price of $2.45 per share, or about 15% of Arizona Mining’s outstanding shares.
Peabody Mining News
South32 drops $200 million plan to buy Peabody coal mine
The miner said it was unwilling to take the steps required to satisfy Australian steel makers to get the approval of the transaction, which would have its major deal since spinning off from BHP in 2015.
Alpha Natural execs. face fraud charges for failing to disclose $100M in liabilities
Regulators argue the undisclosed liabilities increase the probability that the state will be left with claims under the surface-mining and other environmental laws.
South32 looking for more coking coal mines
The company, however, has decided to stay away from thermal coal assets due mainly to uncertainties over demand linked to climate concerns.
South32 scoops up Peabody's Metropolitan coal mine in $200m deal
The deal includes a 17% interest in the Port Kembla Coal Terminal, south of Sydney.
Peabody Energy in restructuring talks with lenders, stakeholders — sources
Peabody circulated a term sheet last week that implied the first lien debt would be impaired, prompting an organizational push, MINING.com has learned.
Lenders throw a lifeline to bankrupt Peabody Energy
The coal giant also said it would review its assets in Australia to run a smaller but "more profitable" basis.
Alpha Natural Resources, Arch Coal near bankruptcy exit deals
Alpha, which filed for bankruptcy in August last year, is scheduled to ask a federal judge Thursday to approve its exit plan despite objections to it.
These five coal miners spent $95 million on lobbying before going bankrupt
Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.
Clinton begins touring core of US struggling coal industry
She is still trying to recover from her televised comments in March, when she said she would put coal companies and miners out of business.
US coal giant Peabody Energy files for bankruptcy
Peabody's bankruptcy filing is one of the largest in the commodities sector since commodity prices began to fall in the middle of 2014.
Bankruptcy looms for world's largest private coal miner
"Substantial doubts" St-Louis-based Peabody Energy with history traced back to 1883 can continue as going concern after missing payment on $6 billion debt.
