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Australian coal mine project acquired
A coal mine project located in the southern coalfields of NSW has been sold for US$200 million.
Emma Musgrave
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Firms: Corrs Chambers Westgarth (Peabody Energy Australia); Herbert Smith Freehills (South32 Limited)
Deal: Peabody Energy Australia has sold its Metropolitan coal mine project to South32 Limited.
Value: US$200 million
Area: M&A
Key players: The legal team advising Peabody Energy Australia was led by Corrs Chambers Westgarth partner Bruce Adkins (pictured) and supported by special counsel Stuart Clague.
Deal significance: The Metropolitan coal mine project is an underground metallurgical coal mine located in the southern coalfields of NSW.
South32 will acquire the Metropolitan coal mine project for a cash purchase of US$200 million, subject to a customary working capital adjustment.
The completion of the transaction is subject to approval from the Australian Competition and Consumer Commission.
“The Corrs team is delighted to have worked with Peabody on this significant transaction,” said Corrs partner Bruce Adkins.
“Despite the recent doom and gloom surrounding the Australian coal sector, this and other recent transactions demonstrate that quality Australian coal assets continue to be in demand.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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