Peabody says it’s still talking with Tinkler on mine sale

|About: Peabody Energy Corp. (BTUUQ)|By:, SA News Editor

Peabody Energy (BTU) says it is still in talks with Nathan Tinkler about the sale of its Wilkie Creek mine in Queensland state, following a report that the former Australian billionaire missed a payment for the asset.

BTU is said to have granted an extension to Tinkler and his New York-based financiers, although it’s not clear for how long.

BTU agreed in May to sell the mine to Tinkler's company for $70M and the assumption of liabilities including rail and port obligations, but a June 30 deadline for the payment was missed.