SYDNEY--Nathan Tinkler, the Australian electrician-turned-mining
magnate who was forced to rapidly liquidate assets last year as
coal prices slumped, has made a surprise return to the fold.
Mr. Tinkler's company, Bentley Resources, agreed to buy Peabody
Energy Corp.'s (BTU) idled Wilkie Creek mine in Queensland state
for US$70 million and the assumption of liabilities related to the
mine's closure in December, the U.S. company said in a
statement.
The liabilities included US$34.5 million in contractual
obligations for the use of rail and port services and US$21.1
million for "asset retirement obligations," a St Louis-based
spokesman for Peabody said.
A spokesman for Mr. Tinkler said the total purchase price,
including all liabilities, was about 150 million Australian dollars
(US$141 million).
Write to Ross Kelly at ross.kelly@wsj.com
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