https://newsletter.en.creamermedia.com
Coal|Energy|Resources
Coal|Energy|Resources
coal|energy|resources

Peabody transforms metallurgical coal portfolio with Australian buy

25th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

US-based coal miner Peabody Energy is set to transform its metallurgical coal production with the acquisition of four coal mines in Australia.

The NYSE-listed company announced it will pay $3.8-billion for Anglo American’s steelmaking coal assets, which include the Moranbah North, Grosvenor, Aquila and Capcoal mines in the Bowen basin.

These mines are complementary to Peabody’s existing Australian platform, including the Centurion mine, and are expected to produce about 11.3-million tons of primarily hard coking coal in 2024.

The acquisition will transform Peabody into a leading global seaborne metallurgical coal producer, with output expected to rise from 7.4-million tons this year to between 21-million and 22-million tons in 2026.

The expanded Australian portfolio will enable Peabody to tap into the growing demand in Asian markets.

"This transformative transaction presents a rare opportunity for Peabody to acquire premier steelmaking coal assets at a compelling valuation as we reweight our portfolio toward seaborne metallurgical coal,” said Peabody CEO Jim Grech.

“The transaction is strategically aligned, immediately accretive and highly synergistic, positioning us to better serve the best metallurgical coal demand centers in the world.”

The acquired mines have an average mine life of more than 20 years with 306-million tons of marketable reserves and an additional 1.7-billion tons of coal resources.

The transaction is expected to close mid-2025. 

Edited by Creamer Media Reporter

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (04/04/2025)
4th April 2025 By: Martin Creamer
Magazine round up | 04 April 2025
Magazine round up | 04 April 2025
4th April 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.121 0.207s - 168pq - 2rq
Subscribe Now