POSCO running the ruler over Peabody coal assets

Peabody Energy is in talks with South Korean steel giant POSCO about selling a minority interest in its North Goonyella coal mine in north Queensland, according to the Australian Financial Review.

The US coal giant has been in on-again, off-again discussions with POSCO for months but the two companies have thus far been unable to agree on price.

But with Peabody moving to cut its Australian exposure, discussions are believed to have reignited.

Skilled Group, Programmed Maintenance Services finalising merger deal

The heavy rationalisation in Australia's labour hire and recruitment services market is gathering speed, with a $750 million-plus merger between Programmed Maintenance Services and Skilled Group about to be finalised, six months after Programmed made its first overtures, according to the Sydney Morning Herald.

Perth-based Programmed, led by managing director Chris Sutherland, has sweetened an original offer during the resumption of merger talks over the past four weeks and Skilled Group directors are poised to agree to the terms, which will create an enlarged entity worth about $750 million.

QRC takes aim at mining critics

Queensland's chief resources lobby has returned fire at The Australia Institute, labelling it an “anti-mining think tank” set on destroying the sector.

The Australia Institute released a report on Monday that found Queensland spent less than any other state on “social services” but more than the rest of the nation on mining subsidies.

Responding to the latest report, Queensland Resources Council deputy CEO Greg Lane called it a “recycled sham”

“They get full marks for chutzpah, but don't score so well on logic,” he said.