United States $3 Billion Coal Producer Peabody to Buy 4 Anglo American Steelmaking Coal Assets in Australia for $2.3 Billion with Additional $1 Billion Contingent Payments Subject to Future Events, 4 Metallurgical Coal Mines are Moranbah North, Grosvenor, Aquila & Capcoal Located in Australia Bowen Basin
27th November 2024 | Hong Kong
United States coal producer Peabody ($3 billion market value) has announced to buy 4 Anglo American steelmaking coal assets in Australia for $2.3 billion, and additional $1 billion contingent payments subject to future events. The 4 metallurgical coal mines are Moranbah North, Grosvenor, Aquila & Capcoal, and located in Australia Bowen Basin. Peabody (25/11/24): “Peabody (NYSE: BTU) today announced it has agreed to acquire world-class steelmaking coal assets from Anglo American plc in a transaction that meaningfully accelerates Peabody’s strategy to reweight its global coal portfolio toward seaborne metallurgical coal. The transaction is expected to close mid-2025, subject to customary closing conditions. In consideration for the transaction: 1) Peabody has agreed to pay cash of $2,320 million, comprised of cash of $1,695 million at closing and deferred payments of $625 million payable in four annual installments commencing on the first anniversary of the completion date. 2) Peabody has also agreed to further contingent payments of up to $1.0 billion, subject to potential favorable future events. 3) Proceeds to Anglo American would also include $455 million made possible by the acquisition of Dawson Mine by PT Bukit Makmur Mandiri Utama in a back-to-back transaction … …The acquisition includes four metallurgical coal mines – Moranbah North, Grosvenor, Aquila, and Capcoal – located in Australia’s Bowen Basin, which is widely recognized for the world’s highest-quality steelmaking coal. Approximately 80 percent of the mines’ output is hard coking coal. The mines are complementary to Peabody’s existing Australian platform, including Centurion Mine, and are expected to produce approximately 11.3 million tons of primarily hard coking coal in 2026. The acquired mines have an average mine life greater than 20 years with 306 million tons of marketable reserves and an additional 1.7 billion tons of coal resources. The acquisition is expected to transform Peabody’s metallurgical coal segment, increasing metallurgical coal production from an estimated 7.4 million tons in 2024 to an expected 21 – 22 million tons in 2026.” Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future.
“ United States $3 Billion Coal Producer Peabody to Buy 4 Anglo American Steelmaking Coal Assets in Australia for $2.3 Billion with Additional $1 Billion Contingent Payments Subject to Future Events, 4 Metallurgical Coal Mines are Moranbah North, Grosvenor, Aquila & Capcoal Located in Australia Bowen Basin“
United States $3 Billion Coal Producer Peabody to Buy 4 Anglo American Steelmaking Coal Assets in Australia for $2.3 Billion with Additional $1 Billion Contingent Payments Subject to Future Events, 4 Metallurgical Coal Mines are Moranbah North, Grosvenor, Aquila & Capcoal Located in Australia Bowen Basin
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