Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Peabody Says It’s Still Talking With Tinkler on Mine Sale

July 9 (Bloomberg) -- Peabody Energy Corp., the largest U.S. coal producer, said it’s still in talks with Nathan Tinkler about the sale of its Wilkie Creek mine, following a report that the former Australian billionaire missed a payment for the asset.

Tinkler, who’s trying to buy the Queensland mine through his Singapore-based company Bentley Resources Ltd., missed a June 30 deadline for the payment, the Australian Financial Review reported, citing people it didn’t identify. Peabody agreed in May to sell the mine to Bentley for $70 million and the assumption of liabilities including rail and port obligations.

“We continue to work with Bentley Resources to achieve the milestones we have previously laid out,” Chris Curran, a spokesman for St. Louis-based Peabody, said today in an e-mail. He declined to comment on the missed payment.

Tinkler, an electrician-turned-entrepreneur, was ranked as Australia’s youngest billionaire at the age of 35 by BRW magazine in 2011 before a series of court cases and asset sales combined to reduce his wealth.

To contact the reporter on this story: Tim Loh in New York at tloh16@bloomberg.net

To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net Will Wade

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.