Deals this week: Cloud Peak Energy, Bandanna Energy, Westmoreland Coal and more
Cloud Peak Energy has acquired the Youngs Creek Mining Company joint venture and other related coal and surface assets in Wyoming's Powder River Basin in the US from Chevron and Consol Energy for $300m.
Of the entire amount, $195m is allocated to the lease of about 450 million tonnes of in-place coal and $105m towards the purchase and lease of 38,800 acres of land, which are considered to support potential increased exports through the Pacific Northwest.
Bandanna Energy has secured A$67.3m ($68.9m) from Credit Suisse to advance its Springsure Creek underground coal project in Australia.
The Springsure Creek project has an export capacity of four mtpa through the new Wiggins Island Coal Export Terminal with first coal shipments targeted in the second half of 2014.
US-based Westmoreland Coal Company has leased 2,557 acres of private coal, representing an estimated 56.4 million tonnes of coal resources adjacent to its Rosebud Mine in Colstrip, Montana, for an undisclosed sum.
Westmoreland controls an estimated 486 million tonnes of proven and probable coal reserves across all of its operations as of 30 June 2012.
Cardno Limited has acquired energy and environmental consulting firm Marshall Miller & Associates in Bluefield, Virginia, US.
Cardno said that the acquisition is expected to contribute around $33m in revenue and $5.5m in EBITDA in FY13 and add 180 staff to Cardno's existing operations in the Americas.