Australian Mining reported that Peabody Energy has hosed down rumours it's looking to defer the sale of the Wilkie Creek mine in Queensland due to a lack of interest.

Fairfax Media reports the company has delayed the sale because the mine failed to attract a high enough bid.

Anonymous sources said Wilkie Creek was not a do-or-die sale and because interest had been low Peabody had decided to push off the deal. But in a statement today the company said it was still in negotiations over the mine.

It said "Peabody Energy today confirmed that the sales process for Peabody's Wilkie Creek Mine in Queensland, Australia, remains under way and that discussions with interested parties continue."

With falling commodity prices and weakening demand from China the value of resources deals in Australia has fallen two-thirds from last year and is on track for a three year low.

Source - Australian Mining

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