Anglo American sells coal assets to Peabody for $3.8bn
The move is the first of four big asset divestments Anglo announced in May, after it fought off a $49bn hostile takeover attempt from BHP.
Investment site Motley Fool energy analyst Taylor Muckerman has an excellent roundup of the prospects for the US energy industry post the Obama re-election when many coal counters were being sold off.
In short, says Muckerman, US coal stocks that will do well – he mentions Peabody and Arch Coal – are those that focus on exports. In the US historically low natural gas prices are taking away business from steam coal producers, but in places like China and India coal is still king when it comes to power generation:
Click here to read at Motley Fool.
