China to Further Consolidate Coal Operations

China plans to create about 10 mega coal companies by 2020 through mergers and reorganizations as part of its long-standing efforts to cut overcapacity, according to China Daily. The country is preparing guidelines to overhaul the sector and it hopes to create several new large coal companies with an annual capacity of 100 million metric tons (mt) by 2020, explained Wang Xiaolin, deputy director of the National Energy Administration (NEA).

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Peabody To Retain Metropolitan Coking Coal Operation in Australia

Peabody will retain the Metropolitan metallurgical coal mine and its associated 16.67% interest in Port Kembla Coal Terminal after proposed purchaser South32 terminated the purchase contract. South 32 was unable to obtain clearance from the Australian Competition and Consumer Commission (ACCC) within the timeframe required under the contract.

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Peabody Energy Announces Closing of $1B Offering

In mid-February, Peabody Energy closed its previously announced private offering of $1 billion aggregate principal amount of senior secured notes, consisting of $500 million of 6% senior secured notes due in 2022 and $500 million of 6.375% senior secured notes due in 2025. The net proceeds of the offering have been funded into an escrow account pending Peabody’s emergence from bankruptcy.

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EIA: Coal Production to Increase in 2017

Coal production in the United States is expected to increase slightly in both 2017 and 2018, reversing recent declines, primarily because of rising natural gas prices, according to a new report by the U.S. Energy Information Administration (EIA).

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Anglo American to Sell Eskom-tied Coal Operations in South Africa

Anglo American announced a $164 million deal to sell its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings Pty Ltd, a company majority owned by historically disadvantaged South Africans (HDSAs) and led by a management team with extensive experience of operating and developing large coal mines in South Africa.

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