Coal makes a comeback in Illinois Basin in US

Two years ago, Peabody Energy opened a new coal mine in Sullivan County, Indiana. The mine, called Bear Run, is now the largest surface mine in the eastern US and a symbol of the revival of one of America's historical coal fields. As coal mining...

Patriot lowers 2012 guidance as US coal market dulls further

As the chill in US coal markets continued, Patriot Coal on Tuesday unveiled a $75-million, or $0.82-a-share, first-quarter loss, compared with the $15.9-million it lost in the first three months of 2011. St. Louis, Missouri-based Patriot recorded...

Environmental groups sue to stop coal leases in Wyoming

Citing global warming, environmental groups are asking a federal judge to call a halt in Wyoming to one of the largest coal-mining plans ever approved by the US government. In a lawsuit filed on Wednesday in US District Court in Washington, DC,...

Peabody sees 10% growth in seaborne coal demand this year

Peabody Energy, the largest US coal miner, on Thursday said it expected global demand for coal to increase significantly over the next decade, despite cooling US markets. The NYSE-listed company said coal-fuelled heat and power generation was on...

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....

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...

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...

Macarthur board recommends Peabody, Arcelor offer

The board of ASX-listed Macarthur Coal on Monday “unanimously” recommended shareholders accept a takeover offer from US-based Peabody Energy and steel producer ArcelorMittal. In its target statement, chairperson Keith DeLacy said that the...