Peabody Energy (BTU) and Glencore are working together on a possible bid for coal assets in Venezuela's Zulia state, Bloomberg reported Wednesday, citing people familiar with the matter.

Peabody Energy was part of the US-government led delegation to Caracas in March, according to the report. The talks between the parties focus on operational control and off-take rights rather taking outright ownership of the mines, the people told the media outlet.

Additionally, a New York-based investing firm Heeney is working with Alabama-based miner Drummond on a sperate potential bid for the assets in Zulia, Bloomberg further said.

Peabody Energy, Glencore did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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