Glencore, Peabody and Heeney Capital reportedly weigh Venezuela coal deals
BTU•Glencore, Peabody Energy and Heeney Capital are reportedly weighing deals to produce coal in Venezuela. Glencore and Peabody are working together on a possible bid for assets in Zulia state, while Heeney is pursuing a separate potential bid with Drummond.
1. Potential coal bids
Glencore and Peabody Energy are working together on a possible bid for assets in Venezuela’s Zulia state, while Heeney Capital is pursuing a separate potential bid with Drummond, Bloomberg News reported, citing people familiar with the matter.
2. Control and offtake
The discussions have focused on operational control and offtake rights rather than outright ownership of the mines, the report said. Glencore declined to comment, while Peabody, Heeney and Drummond did not immediately respond to requests for comment.
3. U.S. access push
The Trump administration is seeking greater U.S. access to Venezuela’s minerals, expanding its push beyond oil, Reuters previously reported.
