Thiess Will Expand Sangatta in Indonesia
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at the Sangatta coal mine in East Kalimantan, Indonesia. The contract will extend the current life-of-mine contract, increasing coal production at the Melawan pit by 12 million metric tons (mt) and overburden removal by 130 million bank cubic meters (bcm) over four years, until December 2021.
CNX Resources Spins Off CONSOL Energy
CNX Resources Corp. (CNX), formerly named CONSOL Energy Inc., announced on November 29 that it has completed the spinoff of CONSOL Energy Inc., formerly named CONSOL Mining Corp. (CEIX), creating two publicly traded companies — a natural gas exploration and production company and a coal company.
Peabody Completes Sale of Burton Mine To Lenton JV
Peabody Energy has completed the sale of the majority of its inactive Burton mine in Australia and its related infrastructure to the Lenton Joint Venture for approximately $11 million, subject to certain customary post-closing adjustments. In addition to the cash from the sale, the transaction reduces Peabody’s asset retirement obligation by approximately $41 million. The sale also provides for the release of approximately $30 million of restricted cash in support of such asset retirement obligation, which combined with the company’s recently announced revolving credit facility, is expected to free up approximately $300 million in cash.