ST. LOUIS, April 16, 2024 /PRNewswire/ -- Peabody (NYSE:BTU) today announced the completion of the previously announced Wards Well acquisition. 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 (NYSE:BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.

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Karla Kimrey

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Forward-Looking Statements

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SOURCE Peabody

Peabody Announces Completion of Wards Well Acquisition