Prague, Czech Republic, September 25, 2023
Sev.en Global Investments has signed a binding agreement to acquire a 51% interest in Coronado Global Resources Inc. (CRN:ASX), a leading international producer of high-quality metallurgical coal from The Energy & Minerals Group (EMG).
Coronado Global Resources produces high-quality metallurgical coal from three mining complexes, in two of the largest and most productive metallurgical coal basins in the world – Queensland’s Bowen Basin in Australia and the Central Appalachian region of the United States. The annual coal production of approximately 16 million tonnes ranks the company among the top five producers of metallurgical coal in Australia and the United States. The total reserves of 550 million tonnes guarantees long-term access to the natural resource and provide opportunities for further expansion.
Alan Svoboda, CEO of Sev.en Global Investments stated “We are excited to become the majority shareholder of Coronado. The company is a global leader in metallurgical-coal mining, with world-class performance across its mines. We believe that Coronado has established a successful business strategy and we will support the company in continuation of its business strategy to grow and strengthen its position both in the US and Australia. This deal is a testament of our ability to grow rapidly and successfully and aligns with our long-term strategy for international growth in these two jurisdictions.”
The acquisition of a majority stake in Coronado will further solidify Sev.en GI’s position as a world leading producer of high-quality metallurgical coal, which is a crucial resource material to satisfy the global growing demand for steel with end use benefits in renewable and critical infrastructure.
John Raymond, Founder and Executive Chairman of EMG stated “We are pleased to enter into this transaction with Sev.en as it accomplishes EMG’s short-term objectives and contemporaneously leaves Coronado well positioned for continued long term success. When we formed Coronado twelve years ago, we did so with the objective of becoming one of the industry’s leading metallurgical coal businesses with a large-scale resource base, strong balance sheet and a best-in-class management team with whom we have created considerable value. With these constructs in place as we transition the business to Sev.en, the Coronado platform remains well positioned for the future given Sev.en’s deep understanding of metallurgical coal fundamentals complemented by their strong balance sheet and stated objective to continue to support and grow the business. Importantly, we wish to thank the management team for their dedication and hard work to achieve what has been accomplished to date and look forward to watching their continued success.”
The transaction is a subject to customary closing conditions, including regulatory approvals in the US and Australia.
About Sev.en Global Investments
Sev.en Global Investments is a Czech based investment group investing across a range of sectors, particularly in the power generation and mining. Sev.en GI operates on three continents – Europe, Australia, and North America.
In Australia, the investment portfolio includes Vales Point Power Station of Delta Electricity and Delta Coal´s Chain Valley Colliery, premium potash fertilizer producer – the SO4 company and Sev.en Royalties that holds mining rights over two operations. In the United States, it is the owner of a met-coal mining company Blackhawk Mining with annual coal production of around 9 million tonnes and Golden Eagle Land Company holding mining rights to more than 2 billion tonnes of coal reserves.
Sev.en Global Investments is part of the Sev.en group whose beneficiary is Mr. Pavel Tykač, a prominent Czech entrepreneur and investor, ranking among top 300 World´s wealthiest people by the Forbes Real Time Billionaires.
For further information, please visit www.7gi.com.
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About Energy & Minerals Group
The Energy & Minerals Group (EMG) is the management company for a series of specialized private equity funds. The firm was founded by John Raymond (Founder, Executive Chairman and Co-CEO) and John Calvert (Co-CEO) in 2006. EMG focuses on investing across the various facets of the global natural resource industry that represent the foundational inputs for affordable and sustainable economic activity. EMG currently has approximately $14 billion of assets under management. For further information, please visit www.emgtx.com.