South32 scraps $200m Australian coal acquisition from Peabody

South32 on Tuesday killed a $200-million deal to buy Peabody Energy's Metropolitan coal mine, in Australia, after running into competition concerns about supply of coal to local steel makers. South32, which had been pursuing its first acquisition since being spun off by global miner BHP Billiton, said it was unwilling to take the steps required to appease Australian steel makers to get the deal over the line.