Coal Miner Peabody Energy in Deal Talks With Australian Rival Coronado



ADELAIDE, Australia—Peabody Energy is in talks to combine with an Australian rival that could result in a new global giant worth some $6 billion, illustrating how the coal-price surge that followed Russia’s invasion of Ukraine is transforming the sector’s fortunes.

Peabody, the largest American coal producer, is discussing a deal with Coronado Global Resources which has operations in the U.S. and Australia. In a regulatory filing with the Australian Securities Exchange on Wednesday, Coronado said negotiations were occurring.

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