Anglo’s metallurgical coal portfolio buyers revealed
Peabody Energy is snapping up a raft of Anglo American metallurgical coal mines in a $5 billion-plus deal expected to close mid-2025.
The acquisition includes the Moranbah North, Grosvenor, Aquila, and Capcoal operations in the Bowen Basin.
And Peabody said Indonesia’s PT Bukit Makmur Mandiri Utama (BUMA) had agreed to acquire a majority interest in Anglo’s Dawson mine from it for a total consideration of almost $700 million in a back-to-back transaction.
Peabody describes its purchases as being complementary to its existing Australian platform, including the Centurion mine, and expects them to produce about 11.3 million tonnes of primarily hard coking coal in 2026.
The transactions follow a $1.6 billion deal early last month for Anglo’s stake in the Jellinbah Group.
Sources had also placed Yancoal and Stanmore Coal as being among the final contenders for the Anglo assets, according to recent reports in financial news outlets.
The acquisition is contingent on regulatory approvals, clearance of pre-emption rights by minority partners of the assets, and other customary closing conditions.
Still in the Bowen Basin and Bowen Coking Coal has achieved first run-of-mine (ROM) coal ahead of schedule from the Plumtree North pit at its Burton mine complex.
The company said the milestone followed the recent completion of a $70 million equity raise that provided it with balance sheet flexibility to fund the Plumtree North development costs, pre-payments, guarantees and general working capital requirements.
Chief Executive Officer Daryl Edwards said Plumtree North was anticipated to provide ROM coal for the next five years.
The new mine lies just south of Ellensfield South at the Burton complex, in close proximity to the CHPP. The first overburden blast was fired on September 26.
It is the third mining area to come into play at Bowen Coking Coal’s Burton mine complex in the Bowen Basin, following on from Broadmeadow East and the Ellensfield South pit.