Yesterday
New Hope soars on signs the worst is over for coal prices
Thermal coal prices may have slumped 77 per cent over the past two-and-a-half years, but New Hope defied the trend with higher volumes, profits and dividends.
This Month
Peabody Energy shops minority stake in $US1.6b Centurion coal mine
Potential bidders have been told the mine is now derisked, with first coal due early next year.
Forrest allegedly chased coal plant buy to ‘influence’ key US senator
Internal documents suggest Fortescue considered a $200 million deal based on its relationship with a US politician, whose IRA support was crucial to it passing.
February
‘Smarten up’: Canada business chief pans Australia on coal and nuclear
Goldy Hyder says he ‘can’t believe the amount of coal reliance you have for a country that has LNG’.
Sydney non-bank lender storms Bis Industries’ $150m refi
Balmain’s proposal requires Bis’s owners, Carlyle and Varde, to inject $145 million of fresh equity – or more than seven-times the $20 million estimated a month ago.
Gupta poised for $800m sale of Tahmoor coal mine, debt deal nears
Sanjeev Gupta says selling the NSW mine will aid the Whyalla steelworks, but a sceptical SA premier thinks the steel entrepreneur is running out of time.
Pembroke secures $875m loan to double Queensland coal development
The privately held owner of a major Bowen Basin mine has secured the debt from international investors in a sign of renewed appetite to lend to the commodity.
Messages reveal Forrest blasting executives over ‘most stupid’ deal
The communications were released in court proceedings over a failed plan to buy coal plants in Ohio and West Virginia and run them on clean-burning hydrogen.
Adani lines up mega debt deal in litmus test for coal financing
The Indian conglomerate’s Abbot Point business had failed to refinance its maturing debt several times between 2020 and 2023 amid reluctance over fossil fuels.
January
Peabody boss in Japanese charm offensive for $US3.8b Anglo coal deal
There’s plenty of work still going around in the blockbuster deal, between the Japanese minorities and external bidders waiting for any further selldowns.
Carlyle, Varde prep equity injection amid Bis Industries’ $150m refi
The private capital heavyweights will inject fresh equity into Bis Industries to help get a $150 million refinancing off the ground.
Queensland coal mine to boost output after legal hurdle overcome
New Hope will ramp up its New Acland mine after striking a legal deal around water use, ending more than a decade of litigation on the long-stalled project.
Alinta Energy taps investment banks as HK tycoon owner weighs options
Street Talk understands Hong Kong’s Chow Tai Fook has mandated investment banks UBS and RBC Capital Markets for advice ahead of a major renewables push.
Coal price slumps to three-year low as super-cycle fades
The commodity is now selling for 23 per cent less than it was only five months ago as a surge in global supply meets a warmer-than-usual northern summer.
Spotlight falls on outliers as miners embrace paid parental leave
Miners are sweetening benefits to attract female employees. Yet Macmahon, a major employer, is resisting paid time off for new parents.
December 2024
Coal demand hits record with Australia bulking up
Australia is over-represented on the world stage as a source of new coal output, the International Energy Agency found.
EnergyAustralia’s fight for future of NSW coal plant
The large Mount Piper generator may be needed by the market for another 15 years, but in a vastly different role that will require policy support.
November 2024
The argument against clean energy is an argument for more blackouts
It is a race against time with the grid under pressure because of coal’s failure not renewables, writes Climate Change Authority chairman Matt Kean.
Private credit will lick its lips over Peabody’s $3.2b bridge loan
We’ve seen this movie elsewhere in Australian coal: a miner buys mines, and funds the deal with a short-term loan. Enter private credit.
Peabody in $5.8b Anglo American coal deal
Takeover target Anglo American has shored up its defences against BHP by selling its Queensland coal mines for up to $5.8 billion.