ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

2017 George A. Fox Conference  - Conference
Jan 23, 2019
2019 SME Annual Conference & Expo  - Conference
Feb 24, 2019 - Feb 27, 2019
CMA 121st Nat'l Western Mining Conference  - Conference
Feb 24, 2019 - Feb 27, 2019
Fuutre of Mining Australia 2019  - Conference
Mar 25, 2019 - Mar 26, 2019

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Peabody to sell majority of Burton Mine to Lenton joint venture
September 6, 2017

Peabody announced today that it 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, Peabody said in a statement.

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.

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.

 

 

Related article search: