Anglo American has released a statement in regards to American coal producer Peabody Energy reviewing options related to its acquisition of Anglo American’s coal assets in Australia.
The miner said it does not believe that the stoppage at its Moranbah North mine on 31 March constitutes a Material Adverse Change in accordance with the definitive agreements with Peabody. A small contained ignition occurred in the goaf at the mine, resulting in the controlled and safe withdrawal of all personnel to the surface. Initial re-entry to Moranbah North was completed on 19 April, and Anglo American continues to work with key stakeholders toward a structured restart to longwall production.
“Anglo American expects to continue working with Peabody towards addressing its concerns and satisfying the remaining customary conditions in those agreements that are required for completion of the transaction,” said the miner.
The nearly $3.8 billion deal announced last year includes four metallurgical coal mines – Moranbah North, Grosvenor, Aquila and Capcoal – located in the Bowen Basin.
Source: Anglo American