Peabody’s Centurion Mine to Begin Longwall Mining Ahead of Schedule, Australia
[Click image to enlarge]
Longwall mining is expected to begin this week at Peabody’s Centurion Hard Coking Coal Mine in the Bowen Basin.
The company revealed the start-up date — which is two months ahead of the original target — in its quarterly report.
Key points:
• Longwall mining kicking off at Centurion
• Peabody assesses mine’s net present value at $3 billion
• Seeking approvals for northern extension
“With a low-cost structure, premium price realizations and a long mine life, Centurion immediately vaults to the top of Peabody’s coal operations and establishes a multi-decade foundation for shareholder value creation,” said Peabody President and Chief Executive Officer Jim Grech.
“Full operations at Centurion follow years of strategic investment, and investors will now begin to benefit from this premier addition to the portfolio,” added Grech.
Centurion is expected to produce about 4.7 million tons per annum (about 4.26 million tonnes) over a 25-year-plus mine life.
Centurion is targeted to deliver 3.5 million tons (3.175 million tonnes ) in 2026, ramping to its targeted 4.7‑million‑ton annual run rate by 2028.
The company assesses Centurion’s net present value at $3 billion, an increase of more than 30 percent over the estimate of late 2024.
Centurion was born after Peabody in late 2022 committed to a redevelopment project to bring its North Goonyella coal mine back online after the operation was taken out of action by an underground fire in 2018.
In December 2023, it announced it was renaming the rebooted North Goonyella site as the Centurion mine to reflect the addition of neighboring Wards Well coal resources after a deal with Stanmore Resources.
With the site now moving into longwall production, Peabody has moves in train for the next stage, extending mining from the southern area into the adjoining northern area as part of the full Centurion mine plan.
The Centurion North extension is expected to produce up to 7.1Mtpa of ROM between 2029 and 2055, extracting up to 148Mt of ROM coal over this period.
Source: Industry Queensland
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
