Peabody Energy, the world’s largest private-sector coal company, is adding to its holdings in Australia by buying “two high quality metallurgical coal operations” in Queensland and more than 100 mt worth of coal reserves from Germany’s RAG Coal International. The operations presently export around 7 mtpa, primarily to Asia.
The transaction is contingent on a series of conditions, including Australian regulatory approval and the negotiation of definitive agreements. Subject to these factors, the transaction is expected to be completed in the first half of 2004. Peabody re-entered the Australian market last year, when it acquired the Australian coal mining subsidiary of Mirant, which included the Wilkie Creek Coal Mine in Queensland....
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This complete item is approximately 230 words in length, and appeared in the November/December 2003 issue of CoalTrans International, on page 9.
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