Arch Coal has completed the acquisition of Rio Tinto's Jacobs Ranch coal mine for $764 million. For Rio Tinto, under tremendous pressure to reduce its $42-billion debt, the selling spree has just got underway. Meanwhile, rival BHP Billiton is sitting pretty with $18 billion in cash, and is eyeing 5 acquisitions. So is Western Coal.
Continue reading "Rio Tinto's Debt Gamble, BHP Builds"
Friday, February 13, 2009
Vancouver-based Teck took on almost $10-billion in debt to buy Fording Canadian Coal, and has had to suspend dividends, curtail zinc output, sell assets and slash capital expenditure to free up cash for debt repayments. For full story, click here
Continue reading "Teck took on debt to buy Fording Canadian Coal"
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Thursday, October 1, 2009