US-based coal producer Peabody Power has raised issues over its deliberate acquisition of Anglo American’s Tier 1 Australian steelmaking coal property, citing a cloth opposed change (MAC) associated to the Moranbah North coal mine in Queensland’s Bowen basin in Australia.
The mine, a part of the acquisition, has been inactive since a gasoline ignition occasion on 31 March 2025.
Peabody indicated that it might withdraw from the settlement if the problems aren’t resolved inside a specified time-frame.
Final month, Peabody Power introduced that it was reviewing its choices relating to the acquisition after the mine hearth.
Peabody president and CEO Jim Grech mentioned: “Whereas we’ve remained on observe to finish the steelmaking coal acquisition from Anglo, the problems at Moranbah North have created important uncertainty across the transaction.
“A considerable share of the acquisition worth was related to Moranbah North, but there isn’t any recognized timetable for resuming longwall manufacturing.”
In the meantime, Anglo American has countered by stating that the manufacturing halt doesn’t represent a MAC, based mostly on the definitive agreements signed with Peabody in November final yr.
Anglo American mentioned in an announcement: “Preliminary re-entry to Moranbah North mine was accomplished on 19 April 2025 and Anglo American is constant to work carefully with the protection regulator, Assets Security & Well being Queensland, business specialists and different key stakeholders as we progress in direction of a structured restart to longwall manufacturing as soon as it’s decided that it’s secure to take action.
“On account of the progress made to this point in direction of a secure restart and the knowledge obtainable, Anglo American doesn’t imagine that the stoppage at Moranbah North constitutes a Materials Hostile Change in accordance with the definitive agreements with Peabody.
“Anglo American expects to proceed working with Peabody in direction of addressing its issues and satisfying the remaining customary circumstances in these agreements which can be required for completion of the transaction.”
“Peabody might terminate Anglo American coal property acquisition over mine hearth” was initially created and printed by Mining Know-how, a GlobalData owned model.
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