BUZZ-Peabody rises on Anglo American deal exit warning over Moranbah mine

Reuters

05 May

BUZZ-<a href="https://laohu8.com/S/BTU">Peabody</a> rises on Anglo American deal exit warning over Moranbah mine

** Shares of coal miner Peabody Energy BTU.N jump 9.3% to $14.00 in premarket trading

** Peabody informs Anglo American AAL.L that it may terminate its $3.78 billion acquisition deal if a Material Adverse Change $(MAC)$ concerning the Moranbah North Mine is not resolved

** Moranbah North Mine - located in the Bowen basin in Queensland, Australia - has been inactive since a gas ignition event on March 31, 2025, with no known timetable for resuming production

** "While we have remained on track to complete the steelmaking coal acquisition from Anglo, the issues at Moranbah North have created significant uncertainty around the transaction," says Peabody CEO Jim Grech

** "A substantial share of the acquisition value was associated with Moranbah North, yet there is no known timetable for resuming longwall production" - Grech

** BTU down 38.83% YTD

(Reporting by Arunima Kumar in Bengaluru)

((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94 ;))

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