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Peabody raises concerns over acquisition of Anglo American coal assets due to Moranbah issues
The Star
|May 06, 2025
PEABODY Energy has taken a significant step in its planned acquisition of steelmaking coal assets from Anglo American Plc by formally notifying the latter of a Material Adverse Change (MAC).
This pivotal development stems from complications related to the Moranbah North Mine, which has remained inactive since a gas ignition event occurred on March 31, 2025.
Last month, Anglo American confirmed that it was engaging Peabody Energy in discussions to finalise the disposal of its Australian steelmaking coal assets to the United States-based company for $3.7 billion.
In a statement on Monday, Peabody’s President and CEO, Jim Grech, expressed the company’s challenge.
"While we have remained on track to complete the steelmaking coal acquisition from Anglo, the issues at Moranbah North have created significant uncertainty around the transaction," Grech said.
Dit verhaal komt uit de May 06, 2025-editie van The Star.
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