Coronado hunting to spend coal cash on M&A


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“Any potential aquisition must be value accretive and located in well-regulated markets with low sovereign risk such as North America and Australia.” Cashed up miners are primed to fuel an M & A boom as commodities companies scramble to bolster their exposure to riches from sustained elevated prices and opportunities arising from the energy transition. Record coking coal prices drove Coronado to a best-ever $US771.7 million ($1.12 billion) profit in the December quarter – a far cry from the $US226.5.thmillion loss it recorded two years ago when coal prices were weak. Coronado’s new boss Douglas Thompson, who was appointed managing...