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Peabody 'reviewing all options' for Anglo coal deal after fire
(Sharecast News) - American coal miner Peabody Energy has announced that it is "reviewing all options" regarding its proposed $3.8bn acquisition of Anglo American's Australian metallurgical coal operations. The news follows a fire at Anglo's Moranbah North Mine last week. Workers at the site were evacuated on 31 March after elevated carbon monoxide levels led to a small underground fire.
A spokesperson at Anglo said the company was working on a "staged re-entry management plan and risk assessment", according to Reuters.
"The company remains in conversation with Anglo American to better understand the impacts of the event. Peabody is preserving all rights and protections under its purchase agreements," Peabody said in a statement late on Tuesday.
Peabody signed a deal last year to take over Anglo's steelmaking coal assets, with the transaction expected to close in mid-2025, as part of the latter's large-scale restructuring.
Anglo's shares were down 2.3% at 1,813.4p by 1004 GMT.
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