Pe­abody off­loads Burton coal mine stake

The Australian Mining Review - - NEWS -

US miner Pe­abody En­ergy has sold the ma­jor­ity of the shut­tered Burton coal mine in QLD’s Bowen Basin for $US11 mil­lion to the Len­ton joint ven­ture (JV).

90 per cent owned by New Hope Coal, the Len­ton JV will as­sume the recla­ma­tion obli­ga­tions as­so­ci­ated with the as­sets, thereby re­duc­ing Pe­abody’s re­tire­ment obli­ga­tion by about $US53m, while also re­leas­ing an es­ti­mated $US30m of re­stricted cash.

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