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Coronado eyes Australian financing deal: Correction

  • Spanish Market: Coal, Coking coal
  • 10/06/25

Corrects financing deal total in first paragraph to $150mn from A$150mn

US-Australian coal producer Coronado is holding talks with Australian state-owned electricity generator Stanwell for the latter to provide $150mn in exchange for thermal coal supply, supporting Coronado's cash-strapped coking coal business.

The negotiations are incomplete and confidential, Coronado told investors on 5 June. There is no guarantee that the two groups will reach an agreement, it added.

Coronado supplies 3mn t/yr of thermal coal to the 1460MW Stanwell Power Station, under a deal that is scheduled to end in the 2026-27 financial year (July-June).

Coronado's Curragh mine in Queensland mostly produces coking coal but it also produces some thermal coal. The firm's saleable production fell by 3.6pc in 2024, although sales still increased year on year. Coronado exported 10.2mn t of hard coking coal from Curragh in 2024, up from 9.9mn t in 2023.

But the company is facing cash availability difficulties, because of a fall in coking coal prices. Argus' metallurgical coal premium hard low-volatile fob Australia price fell to $186.70/t on 5 June from $256.15/t on 7 June 2024.

US credit ratings agency Fitch downgraded Coronado's credit rating from a B to a CCC+ on 14 May, because of expectations that its cash position will weaken without additional funding. But Coronado's cash position could improve soon, despite continued price weakness. The company started talks with Queensland's state government about possible mineral royalty relief in the first quarter, it told investors on 30 April. It also secured a A$150mn ($98mn) loan facility from lenders on 4 June, backed by coal inventories.

By Avinash Govind

Argus’ metallurgical coal premium hard low-vol fob Australia $/t

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11/07/25

Workers extend strike at Australian coal mine

Workers extend strike at Australian coal mine

Sydney, 11 July (Argus) — Unionised workers have extended a strike at US producer Peabody Energy's Metropolitan coal mine in New South Wales, Australia, halting production until 17:30 AEST (07:30 GMT) on 11 July. Workers launched the day-long stoppage late on 10 July, extending the previous 24-hour strike , the Mining and Energy Union (MEU) told Argus on 11 July. Metropolitan has faced significant labour disruptions since 18 June, when Peabody locked workers out of the mixed thermal, hard coking and pulverised coal injection (PCI) mine, without pay, over an ongoing employment dispute. The company's lock-out ended late on 9 July. The MEU and Peabody are negotiating a new enterprise agreement, but remain at odds over multiple issues, including the use of contractors. Both have engaged in Fair Work Commission-led mediation three times — most recently on 8 July — since the dispute began, but have no further meetings scheduled. Metropolitan Coal remains fully committed to ongoing good faith negotiations with the union, a Peabody spokesperson told Argus on 10 July. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Workers strike at Australian coal mine: Correction

10/07/25
10/07/25

Workers strike at Australian coal mine: Correction

Corrects mine lock-out start date in paragraph 3 Sydney, 10 July (Argus) — Mining and Energy Union (MEU) workers at US producer Peabody Energy's Metropolitan mine in New South Wales are striking over an ongoing pay dispute, halting production until 5pm AEST (7am GMT) on 10 July. MEU launched a five-hour stoppage at 5pm on 9 July, before extending it to 12 hours. The unionised workers launched another 12-hour strike early on 10 July, the union told Argus on the same day. Peabody locked miners out of the mixed thermal, hard coking, and pulverised coal injection (PCI) mine from 18 June until 5:30pm on 9 July, without pay, over an increasingly acrimonious employment negotiation. MEU and Peabody negotiators are at odds over the use of contractors at Metropolitan, among other issues. They met for Fair Work Commission-led mediation during the lock-out on 8 July. Metropolitan Coal remains fully committed to ongoing good faith negotiations with the union, a Peabody spokesperson told Argus on 10 July. The MEU's latest strike comes a day after unionised workers at global producer Glencore's 20mn t/yr Ulan thermal coal mine launched a day-long strike, targeting some underground operations at the complex. The Ulan strike is set to end on 10 July. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US' Peabody extends coal mine lock-out: Correction

10/07/25
10/07/25

US' Peabody extends coal mine lock-out: Correction

Corrects mine lock-out start date in paragraph 3 Sydney, 10 July (Argus) — US coal producer Peabody Energy has extended a lock-out of workers at its Australian Metropolitan mine until late on 9 July, because of a continuing dispute with the Mining and Energy Union (MEU). MEU workers will remain barred from entering the mixed thermal, pulverised coal injection (PCI), and hard coking coal mine — which produced 1.8mn t of coal in 2024 — without pay until 9 July, the union and company confirmed on 7 July. Peabody's lock-out began on 18 June and was scheduled to end on 6 July . The company ended the action early on 3 July, but then reintroduced and extended it late on 4 July because of partial work bans. The MEU can launch an unlimited number of work stoppages and limited work bans at Metropolitan, based on a 7 June strike authorisation. The MEU and Peabody remain at odds over the use of contractors at the mine, among other issues. The two groups are scheduled to engage in a Fair Work Commission (FWC) mediation on 8 July. They have already had two FWC mediations over the dispute, said Peabody's vice-president of underground operations Mike Carter on 7 July. Peabody has also met with employees more than 10 times, he added. Metropolitan Coal remains fully committed to ongoing good faith negotiations with its workers, a Peabody spokesperson said on 7 July. MEU workers will rally outside the site early on 8 July, joined by other labour unions. The labour dispute at Metropolitan follows a series of strikes at Peabody Energy's 12mn t/yr Wilpinjong thermal coal mine in February, over a different contract negotiation. By Avinash Govind Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Canadian met coal displaces US in May

09/07/25
09/07/25

Canadian met coal displaces US in May

London, 9 July (Argus) — Canadian coking coal mining firms offered lower-priced cargoes into India in May — seeking a new market to offset a sharp drop in Chinese demand — taking Indian buyers away from US coking coal in the month. Canada shipped 330,000t of coking coal to India in May, a 38pc increase from a year ago and a 104pc jump from April, Global Trade Tracker (GTT) data show. Chinese buyers have imported far less coking coal in January-May , slashing their imports from Mongolia in particular. But the slide in Canadian imports has been a more recent development. Canada's exports to China fell by 29pc in May to 837,000t. Traders have attributed a wave of low-priced Canadian offers to the decline in China's seaborne imports. Canadian mining firms have increasingly relied on the Chinese steel industry, as demand from Canada's traditional north Asian buyers — Japan, Korea and Taiwan — has weakened and Australian coal exited China in 2020 . Canada's suppliers shipped 32pc less coking coal to Japan on the year in May at 404,000t, extending a two-year decline in its exports to the country. US suppliers shipped half as much coking coal to India on the year in May at 449,000t. US coking coal exports dropped by 14pc, with weak interest in Brazil and Japan also weighing on the country's market. Buyers in Europe helped offset some of the year-on-year decline in US exports, taking 41pc more on the year at 1.1mn t. US suppliers also found renewed interest from Indonesian coke producers, sending 144,000t to the country, an 89pc jump from the year before. Indonesian coke-making capacity hit new heights late last year, bringing record US shipments to the country from November to February, but that new demand largely died out in March and April, when coke prices hit historic lows worldwide and cokeries found cheaper coking coal elsewhere. The Argus metallurgical coke 65 CSR fob Indonesia assessment dropped by $23.10/t from January to the start of March and several producers started cutting production. The Indonesian coke assessment fell to $191.50/t last week, the lowest price since Argus started assessing the product in November 2023. US coking coal suppliers say they are expected to sell to the country at a discount to low-volatile cfr China prices, meaning many producers are making sales at a loss. Indonesian buyers were also attracted to lower offers from Canada, with Canadian suppliers shipping a record 268,000t to the country. Canada exported 79,000t of coking coal to Indonesia in April with no prior exports to the country, according to GTT data. By Austin Barnes Canada coking coal exports May 2025 '000t Destination May 2025 May 2024 ±%y-o-y World 2,711 2,610 4 China 837 1,172 -29 Japan 404 595 -32 South Korea 344 331 4 India 330 240 38 Indonesia 268 0 N/A — GTT US coking coal exports May 2025 '000t Destination May 2025 May 2024 ±%y-o-y World 3,538 4,123 -14 India 449 916 -51 Netherlands 440 72 511 Brazil 370 576 -36 Japan 296 491 -40 South Korea 227 0 N/A Turkey 222 241 -8 Canada 199 266 -25 Indonesia 144 76 89 — GTT Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US BLM seeks to reopen PRB coal leasing

08/07/25
08/07/25

US BLM seeks to reopen PRB coal leasing

Houston, 8 July (Argus) — The US Bureau of Land Management (BLM) has started the process to reopen federal land in the Powder River basin to new coal leasing. BLM on 7 July said it is seeking public comment on potential amendments to resource management plans for the agency's Buffalo, Wyoming, and Miles City, Montana, field offices. Notices of intent to prepare the amendments were published in the Federal Register today. The agency is "considering updates to identify areas that may be suitable for future coal leasing," within the footprints of the Buffalo and Miles City field offices, it said yesterday. This would reverse plans finalized last year under the administration of former president Joe Biden that block new coal leasing on federal land in the Buffalo and Miles City regions, but allow existing leases to remain in effect until they expire. BLM's notices of intent are among steps the agency is making to comply with an executive order from president Donald Trump in January as well as an order from Interior secretary Doug Burgum in February aimed at expanding domestic energy production. The PRB is the largest coal-producing region in the US and a significant part of the basin's output is from mines on federal property. In the first half of this year, production from Wyoming and Montana mines accounted for about 41pc of all US output, according to US Energy Information Administration estimates. Both amendments BLM is working on would potentially revert plans to previous versions. For the Buffalo field office resource management plan, BLM will compare reopening 481,000 acres of land to leasing, as it had done in 2019, to maintaining the 2024 plan. In Montana, the proposed amendment focuses on going back to a 2021 plan for the Miles City field office that allowed leasing of an additional 1.2mn acres of federal land. BLM said it is seeking public comments, coal resource data and input on planning criteria and potential alternatives through 7 August. The National Mining Association said it will submit formal comments, emphasizing that "federal coal leasing remains an important part of the US energy mix, particularly as electricity demand rises and grid reliability becomes more critical." The Navajo Transitional Energy Company, which has mines that could be affected by the 2024 ban on new federal coal leasing, also voiced support and said that it plans to submit a formal comment. But the plans also are likely to face opposition and possibly legal challenges. Jenny Harbine, managing attorney for environmental group Earthjustice's northern Rockies office, on 7 July criticized BLM's actions as "pursuing yet another unwarranted coal giveaway". By Angelina Contreras Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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