Sev.en takes top spot for US met coal exports with Coronado deal

In late September, Sev.en Global Investments agreed to buy the Energy & Minerals Group’s 51% stake in Coronado. The deal's price was not disclosed, but we assumed it would closely align with Coronado’s total market cap of US$1.9 billion. The deal makes Sev.en GI the largest met coal exporter in the US and the seventh globally. It also allows the company to diversify its coal interests across the US and Australia, at a time when some of the majors are looking to diversify away from coal because of climate and ESG concerns.