Longwall Mining
Advertisement




Advertisement




Advertisement




Advertisement




Advertisement




Advertisement




Peabody Enters Agreement to Sell Majority of Burton Mine to Lenton Joint Venture for $11 Million

Published: September 15, 2017 |

[Click image to enlarge]

Peabody has entered into an agreement to sell the majority of its Burton mine and related infrastructure to the Lenton Joint Venture for approximately US$11 million. 

The Lenton Joint Venture will assume the reclamation obligations associated with the assets being acquired by the Lenton Joint Venture, reducing Peabody’s asset retirement obligation by approximately US$53 million while also releasing an estimated $30 million of restricted cash. The Burton mine, located in Queensland’s Bowen Basin, entered a care, maintenance and rehabilitation phase in December 2016.

The transaction is conditional on a number of regulatory and other requirements and completion is expected to take place in the first half of 2018. 

The Lenton Joint Venture, of which New Hope Coal is a 90 percent participant, controls mining tenements that adjoin the Burton mine.


About Peabody
Peabody is the world’s largest private-sector coal company. The company is also a leading voice in advocating for sustainable mining, energy access and clean coal technologies. Peabody serves metallurgical and thermal coal customers in more than 25 countries on five continents.

To stop by Peabody’s website, CLICK HERE

Be in-the-know when you’re on-the-go!

FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.


Copyright © 2017 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)

Advertisement




Advertisement




Advertisement




Advertisement




Advertisement




Advertisement