Peabody Completes $136 Million Acquisition of Wards Well Coal Deposit, Australia
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Peabody has completed the acquisition of Wards Well coal deposit. In October, the company reached an agreement to acquire a large portion of the Wards Well coal deposit immediately adjacent to the company’s Centurion Mine Complex, for cash consideration of $136 million and a contingent royalty of up to $200 million payable after recovery of the related project investment when coal prices exceed certain targets.
The acquisition represents a strategic opportunity to extend the mine life of Centurion, Peabody’s tier one premium hard coking coal mine. The company is currently developing an integrated 130 million ton, 25+ year mine plan which incorporates the Wards Well coal deposit.
Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy, and steel. Its commitment to sustainability underpins everything they do and shapes their strategy for the future.
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