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Peabody Energy Corp. and Coronado Global Resources Inc. have announced the termination of talks to create a new global coal giant valued at approximately $6 billion. The companies did not disclose the reason for the failure or the financial terms proposed. The potential merger was seen as a reflection of the coal industry's improved prospects following the surge in coal prices due to Russia's invasion of Ukraine. Peabody reported significant net income growth, citing favourable coal prices.
Saturday, 5 November, 2022