Peabody Notifies Anglo American of Material Adverse Change Impacting Planned Acquisition
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Peabody said it has notified Anglo American of a material adverse change (MAC) impacting Peabody’s planned acquisition of steelmaking coal assets from Anglo.
The MAC relates to issues involving the Moranbah North Mine, which remains inactive following what was described as a gas ignition event on March 31, 2025.
“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,” said Peabody President and Chief Executive Officer Jim Grech.
“A substantial share of the acquisition value was associated with Moranbah North, yet there is no known timetable for resuming longwall production,” added Grech.
If the MAC is not resolved to Peabody’s satisfaction in the limited timeframe specified under the companies’ acquisition agreements, Peabody may elect to terminate the agreements.
Anglo American said it is continuing to work closely with the safety regulator, Resources Safety & Health Queensland, industry experts, and other key stakeholders as they progress towards a structured restart to longwall production once it is determined that it is safe to do so.
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy, and steel. Their commitment to sustainability underpins everything they do and shapes their strategy for the future.
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