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Coronado hunting to spend coal cash on M&A

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Australian and American metallurgical coal miner Coronado declared it is hunting for acquisitions and declined to dismiss speculation it is in the market for two of BHP’s mines in Queensland.

Armed with cash in the bank from high coal prices and strong demand from India thanks to its push to become a steelmaking powerhouse, Coronado is scouring “well-regulated and low sovereign risk countries” like the US and Australia for mine assets.

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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au

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    Original URL: https://www.afr.com/companies/mining/coronado-hunting-to-spend-coal-cash-on-m-and-a-20230525-p5db8g