FINWIRES · TerminalLIVE
FINWIRES

Coronado Global Resources to Divest Logan Mining Complex in US

By

Coronado Global Resources (ASX:CRN) agreed to divest its Logan Mining Complex in West Virginia, US, selling its full interest in Coronado Coal II to Phoenix Coal Holdings, with the buyer assuming associated liabilities including reclamation and other post-closing obligations, according to a Monday filing with the Australian bourse.

The Logan complex consists of coal mining properties, leases, permits, and infrastructure, including a preparation plant and load-out facility, located across Boone, Logan, and Wyoming Counties, per the filing.

The deal is expected to be free cash flow positive for the company by eliminating ongoing holding and care-and-maintenance expenses, as well as future environmental and operational liabilities, the filing said.

The transaction is subject to customary closing conditions and is expected to be completed in July, with no anticipated impact on the company's near-term production guidance, the filing added.

Related Articles

Asia

Credit Corp Group Taps Perpetual's Greg Cooper as Board Chair

Credit Corp Group (ASX:CCP) appointed Greg Cooper to succeed Eric Dodd as board chair, effective Aug. 5, according to a Monday filing with the Australian bourse.Cooper, currently the chair of Perpetual (ASX:PPT), will join Credit Corp's board as a non-executive director on July 1 before assuming the chair role, per the filing.

$ASX:CCP$ASX:PPT
Asia

Victory Metals Joins US Defense Consortium

Victory Metals (ASX:VTM) has been approved as a member of the US Defense Industrial Base Consortium (DIBC), integrating the company into the American defense procurement network, according to a Monday filing with the Australian bourse.The DIBC membership is designed to provide access to US Department of Defense funding programs, prime contractors, and downstream critical mineral processors, per the filing.The company said this strengthens North Stanmore's role as a Western-aligned source of heavy rare earths and strategic minerals, including those subject to Chinese export controls, and supports its strategy of US-linked critical minerals partnerships, the filing added.

$ASX:VTM
Asia

Market Chatter: National Australia Bank Plans to Hire Over 1,000 Employees in India, Vietnam

National Australia Bank (ASX:NAB) intends to hire over 1,000 additional employees in India and Vietnam following a doubling of its headcount in both countries over the last three years, the Australian Financial Review reported Monday, citing an anonymous source inside the bank.The company has roughly 5,000 staff in India and around 2,000 in Vietnam, representing about 18% of its total workforce, according to the report.The reported overseas hiring plans come amid tensions over Australian banks reducing their domestic headcount."The notion that Australia lacks enough skilled workers, especially in technology and engineering, is laughable, given these are the exact types of jobs being targeted in sweeping job cuts happening across the finance sector as we speak," AFR cited Finance Sector Union national assistant secretary Nicole McPherson as saying.National Australia Bank did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$ASX:NAB