Coronado prices fall as Peabody talks end
PERTH (miningweekly.com) – The share price of coal miner Coronado Global Resources tumbled on Monday on news that the company had discontinued discussions with energy major Peabody Energy Corporation.
Coronado last month confirmed merger talks with the US major, but said at the time that no agreement had been reached.
The coal miner said that its decision to discontinue combination talks with Peabody would not impact the company’s fourth quarter plans, and that the company would continue pursuing and implementing its existing capital management plans and remained focused on existing capital investments and its long-term development strategy.
Coronado in May this year also engaged in merger talks with NYSE-listed Arch Resources, a metallurgical coal miner operating four mines in the US, however, these discussions did not amount to a transaction.
Coronado owns the Curragh mine complex, in Queensland, as well as two operating and one idled mine in Virginia and West Virginia.
Coronado shares were trading at A$2.14 a share on Monday morning, down 12.9c a share from previous trade.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation