Macarthur lets Peabody begin due diligence

The arrival and prolonged stay of Tropical Cyclone (TC) Debbie shut down Queensland’s coal industry at the end of March, and the ramifications will be felt for months. TC Debbie formed in the Coral Sea and reached Category Four intensity before it crossed the coast north of Mackay on 28 March, depositing torrential rain in the Bowen basin over more than five days.

There are strong signs the Australian commodities cycle has bottomed, and a new investment phase may be about to begin.

Peabody Energy and Kinder Morgan Energy Partners (KMP) have announced long-term agreements to secure and expand the Gulf Coast export platform for Peabody’s Colorado, Powder River Basin and Illinois Basin coal products.

Peabody Energy has leased 721 mt of ultra low sulphur coal reserves adjacent to its North Antelope Rochelle Mine in the Southern Powder River Basin of Wyoming.

Australia’s deputy prime minister Wayne Swan has cleared the way for China’s Yanzhou Coal to merge with Gloucester Coal.

Leighton Contractors, through its Mining Division, has been awarded a contract extension worth Au$125M for the provision of mining services at the Moorvale Mine in Central Queensland’s Bowen Basin.