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Joy Global Will Be Renamed Komatsu Mining

Komatsu America Corp., a subsidiary of Komatsu Ltd., has completed its acquisition of Joy Global Inc., a worldwide leader in high-productivity mining solutions. Retaining its headquarters in Milwaukee, Wisc., Joy Global will be renamed Komatsu Mining Corp. and operate as a subsidiary of Komatsu. The company said it will continue to promote and invest in the P&H, Joy and Montabert product brands.

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Warrior Met Coal Launches IPO

Warrior Met Coal, LLC, soon to be Warrior Met Coal, Inc., launched an initial public offering of 16,666,667 shares of its common stock at an anticipated initial offering price between $17.00 and $19.00 per share, pursuant to a registration statement on Form S-1 filed previously with the Securities and Exchange Commission (SEC). The shares are expected to trade on the New York Stock Exchange under the ticker symbol HCC.

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Peabody Emerges From Chapter 11

Peabody Energy this week reported that it emerged from Chapter 11 protection with a transformed capital structure, including new equity that is expected to begin trading on the New York Stock Exchange under the ticker symbol BTU.

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Cyclone Debbie Sweeps through Queensland Coalfields

Rail provider Aurizon confirmed to the Australian Financial Review that none of the four railways serving Queensland coal miners were in full operation, and two of them were entirely out of action in the wake of category four Cyclone Debbie. The disruption will likely spark a short-term rally in coking coal prices, given that Queensland produces more than half of the world's seaborne coking coal.

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Vale Completes Moatize Coal Transaction With Mitsui

This week, Vale announced it had completed the $770 million equity transaction with Mitsui & Co. Ltd. (Mitsui) associated with the divestment of part of its interest in the Moatize coal mine and in the Nacala Logistics Corridor (NLC). Vale received $733 million and the remaining $37 million will be paid at the conclusion of the project finance transaction of as much as $2.7 billion, which will help fund the project and is still expected to happen in 2017.

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