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.
Contact:
Karla Kimrey
314.342.7890
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the securities laws. Forward-looking statements can
be identified by the fact that they do not relate strictly to
historical or current facts. They often include words or variation
of words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "projects," "forecasts,"
"targets," "would," "will," "should," "goal," "could" or "may" or
other similar expressions. Forward-looking statements provide
management's current expectations or predictions of future
conditions, events or results. All statements that address
operating performance, events, or developments that Peabody expects
will occur in the future are forward-looking statements. They may
include estimates of sales and other operating performance targets,
cost savings, capital expenditures, dividends, share repurchases,
other expense items, actions relating to strategic initiatives,
demand for the company's products, liquidity, capital structure,
market share, industry volume, other financial items, descriptions
of management's plans or objectives for future operations and
descriptions of assumptions underlying any of the above. The
declaration and payment of future quarterly dividends remains at
the discretion of the Board of Directors and will depend on the
Company's financial results, cash flow and cash requirements,
future prospects, and other factors deemed relevant by the Board.
All forward-looking statements speak only as of the date they are
made and reflect Peabody's good faith beliefs, assumptions and
expectations, but they are not guarantees of future performance or
events. Furthermore, Peabody disclaims any obligation to publicly
update or revise any forward-looking statement, except as required
by law. By their nature, forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those suggested by the forward-looking statements.
Factors that might cause such differences include, but are not
limited to, a variety of economic, competitive and regulatory
factors, many of which are beyond Peabody's control, that are
described in Peabody's Annual Report on Form 10-K for the fiscal
year ended Dec. 31, 2023 and other
factors that Peabody may describe from time to time in other
filings with the SEC. You may get such filings for free at
Peabody's website at www.peabodyenergy.com. You should understand
that it is not possible to predict or identify all such factors
and, consequently, you should not consider any such list to be a
complete set of all potential risks or uncertainties.
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SOURCE Peabody