Peabody Energy terminates planned Anglo American acquisition

Peabody has terminated purchase agreements with Anglo American due to a material adverse change relating to Anglo’s steelmaking coal assets. Peabody’s decision to terminate the transaction comes nearly five months after an ignition event occurred at Anglo’s Moranbah North Mine. The exact cause of the event remains unknown, with no definitive timeline to resuming sustainable longwall production. Prior to the March 31 event, the acquisition had been scheduled to close in April 2025. Anglo estimates $45M per month of holding costs at Moranbah North. The mine was previously targeted to produce 5.3 million tons of saleable production in 2025, yet there is no timetable for the resumption of longwall production at forecasted volumes and costs. Peabody has also terminated the agreement for the related sale of the Dawson Mine to PT Bukit Makmur Mandiri Utama.