Royalty Holder…….Peabody Energy
Revenue……………..…..…………........n.a.
Mine Life...……………..…30 years plus
Commodity………………..Coking Coal
Operator……..Pembroke Resources

#18 Olive Downs

US-based coal giant Peabody Energy entered Chapter 11 last year and administrators have been busy, liquidating assets.

Its Olive Downs coking coal deposit in Queensland is undeveloped, so was lobbed out the door, but Olive Downs has a vast coking coal resource of 950m tonnes, which was snapped up by Sydney-based coal veteran, Barry Tudor.

Tudor is backed by Denham Capital, the private equity group. He also previously led ASX-listed Gloucester Coal, a darling of the last coal boom, and the coal trading division of Hong Kong-based Noble Group. He therefore has plenty of experience getting projects off the ground.

Peabody held onto a royalty over Olive Downs, though its bankruptcy process is understood to be chaotic, so the royalty could end up on the block for sale.

 

 

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