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South32 scraps US$200m acquisition of Australian coal mine from Peabody

South32 has said that it is unwilling to take the steps required to appease Australian steel makers to get the deal approved by the Australian Competition and Consumer Commission.


SOUTH32 Ltd on Tuesday killed a US$200 million deal to buy Peabody Energy's Metropolitan coal mine in Australia after running into competition concerns about supply of coal to local steel makers.

South32, which had been pursuing its first major acquisition since being...

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