MINING CORPORATIONS – UNITED STATES

Peabody to trim Australian coal output

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 12-Aug-16

Peabody Energy Corporation has flagged the potential sale of non-core coal assets in Australia, the US and Canada as part of its turnaround strategy. The group, which filed for bankruptcy protection in April 2016, has also advised that its annual coking coal output in Australia is likely to fall to seven million tonnes in 2021, compared with expectations of 15 million tonnes in 2016. However, thermal coal production is expected to be maintained at around current levels for the next five years.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, RIO TINTO LIMITED – ASX RIO, UBS HOLDINGS PTY LTD

Newmont to mull Barrick Super Pit deal

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Original article by Tess Ingram
The Australian Financial Review – Page: 16 : 11-Aug-16

US-based Newmont Mining Corporation has indicated that it could seek to gain full ownership of the Super Pit gold mine in Western Australia. Barrick Gold recently flagged the possible sale of its 50 per cent stake in the massive mine. Newmont CEO Gary Goldberg has stressed that organic growth rather than acquisitions remains the big miner’s primary focus, but adds that its knowledge of the Super Pit could make it an exception. He notes that Newmont acquired the Cripple Creek & Victor mine in 2015 at a time when the gold price was lower.

CORPORATES
NEWMONT MINING CORPORATION, BARRICK GOLD CORPORATION, ANGLOGOLD ASHANTI LIMITED – ASX AGG, DIGGERS AND DEALERS FORUM, CREDIT SUISSE (AUSTRALIA) LIMITED

Australian operations ‘not included’ in Peabody bankruptcy

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Original article by James Thomson, Peter Ker
The Australian Financial Review – Page: 17 : 14-Apr-16

The Minerals Council of Australia’s Greg Evans says the local operations of US-based Peabody Energy are unlikely to be affected by its move to seek bankruptcy protection. The debt-laden coal miner has stressed that its Australian business is not subject to the Chapter 11 filing. Peabody boasts debt of about $US6.bn (A$8.2bn), and it has been hard hit by the downturn in coal prices.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, MINERALS COUNCIL OF AUSTRALIA, EXCEL COAL LIMITED, MACARTHUR COAL LIMITED, ARCH COAL INCORPORATED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Kalgoorlie’s golden secret sent offshore

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Original article by Andrew Burrell
The Australian – Page: 15 : 8-Sep-14

The owners of Super Pit operator Kalgoorlie Consolidated Gold Mines (KCGM), US-based Barrick Gold and Newmont Mining, have been criticised by residents of the Western Australian town. They note that no information on any expansion plans by KCGM for the mine has been released to them, while the parent companies have mentioned promising new drilling data to investors overseas. The main issue is potential underground work in the Central Corridor area, where high-grade ores are said to have been encountered

CORPORATES
KALGOORLIE CONSOLIDATED GOLD MINES PTY LTD, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION