This Month
NSW backs BHP’s early coal mine closure
Decades of coal production will be kept in the ground after the NSW government backed BHP’s plan to shut a mine early and convert to clean energy generation.
Australian exports safe from Trump’s ‘beautiful coal’ dream
The president’s push to reinvigorate the US coal industry will not seriously affect Australia dominance of exports to China, experts say, but prices are likely to fall further.
Trump cites Australia in his ‘beautiful clean coal’ energy overhaul
US President and fossil fuel advocate Donald Trump has noted Australia’s sales to China when signing executive orders to turbocharge coal production.
Advice for commodities investors? Sell, sell, then keep selling
Major Wall Street brokers are telling clients to resist the temptation to buy into metals and oil as prices fall, warning economic disruption is not over.
BHP says China demand for iron ore to remain strong for several years
BHP executive Rag Udd says growth in the production of electric vehicles and other machinery in China is supporting the country’s demand for iron ore.
iPartners joins Bis Industries’ $110m debt refinancing
Under the deal, Carlyle and Varde has committed to injecting $50 million to $60 million to allow for a full refinancing and to leave Bis with some working capital.
March
BHP’s Mount Arthur closure plans face pushback from politicians, union
The massive thermal coal operation would be closed at the end of the decade under plans lodged by the resources giant, which wants to build a hydroelectric dam.
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.
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.