Australia's Coronado Global gains most in nearly two months on coal mine divestment

Coronado Global Resources

25/05/2026 01:59

** Shares of Australia's Coronado Global Resources CRN.AX rise as much as 11.6% to A$0.24, their biggest intraday pct gain since March 31

** The coal producer says it would sell Coronado Coal II LLC, the entity holding the Logan Mining Complex in the United States, to U.S.-based Phoenix Coal Holdings, LLC

** Co says the divestment to help reduce ongoing care and maintenance and holding costs, focus capital allocation on core metallurgical coal operations among others

** YTD, stock down 23.4%

 (Reporting by Aamir Sheik Khalid in Bengaluru)

 ((Aamir.SheikKhalid@thomsonreuters.com))