30
Oct
01:18
Stanmore sells southern Wards Well to Peabody
Australian coal miner Stanmore Resources has inked a deal to sell the southern area of the Wards Well coal tenements to United States-based coal miner Peabody Energy for $136 million, Kallanish notes.
Stanmore says in a statement that the sale comes together with a contingent capped royalty stream of up to circa $200 million payable on the first 120 million tonnes of coal mined, the value of which is dependent on the prevailing coal price exceeding certain …
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Very good overview of the weekly steel market.
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