CORPORATE TURNAROUNDS – UNITED STATES

Revitalised Peabody sees wider role for coal

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Original article by Matt Chambers
The Australian – Page: 17 & 20 : 17-Apr-18

US-based Peabody Energy has a market capitalisation of around $US4.7bn ($A6bn) just over a year after it emerged from Chapter 11 bankruptcy protection. Peabody’s Australian operations in particular have performed well in the last year, having achieved a pre-tax operating profit margins of nearly 40 per cent in the March quarter. There has been speculation about potential acquisitions, but Peabody CEO Glenn Kellow says the company’s priority is to return capital to investors via share buybacks and dividends.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, ELLIOTT MANAGEMENT CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, REALM RESOURCES LIMITED – ASX RRP, AGL ENERGY LIMITED – ASX AGL, NEW YORK STOCK EXCHANGE

Aussie mine focus as Peabody beats bankruptcy

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Original article by Matt Chambers
The Australian – Page: 18 : 10-Apr-17

Peabody Energy Corporation has been reinstated to the New York Stock Exchange after emerging from Chapter 11 bankruptcy protection. Peabody has reduced costs, sold or shut down coal mines and slashed its debt by $US5bn since filing for bankruptcy in April 2016. CEO Glenn Kellow has stressed the importance of Peabody’s coking and thermal coal mines in Queensland and New South Wales, noting that its Australian operations provides the company with access to the Asia-Pacific market. He adds that Australia should consider building clean coal power stations.

CORPORATES
PEABODY ENERGY CORPORATION, NEW YORK STOCK EXCHANGE, BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Alcoa’s turnaround a shot in the arm for Alumina

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 14-Jan-15

The stock of Alumina on 13 January 2015 closed 4.2% higher at $A1.96. The reason was the release in the US by partner Alcoa of its profit data for calendar 2014. It recorded a fourth-quarter net earnings result of $US159m ($A194m) and a full-year one of $US268m, which were recoveries from the previous year’s losses of $US268m and $US2.3bn respectively. Alcoa manages and holds 60% of the Alcoa World Alumina & Chemicals business, and Alumina’s sole asset is a stake of 40% in that enterprise

CORPORATES
ALUMINA LIMITED – ASX AWC, ALCOA INCORPORATED – ASX AAI, ALCOA WORLDWIDE ALUMINA AND CHEMICALS, CITIGROUP PTY LTD