Peabody Energy Confirms Exploring Partial Sale of Centurion Coal Mine

MT Newswires Live05-07

Peabody Energy (BTU) on Tuesday confirmed that it is exploring a potential partial sale of its Centurion coal mine in Australia.

During its Q1 earnings call, company executives said they had received a "robust response" to initial outreach efforts but emphasized that no decision had been made regarding a sale.

The Australian Financial Review in March reported that bankers from MA Moelis had contacted Asian steelmakers, traders, and offtakers about a minority interest in the 4.3 million-tonnes-a-year Centurion Mine, which began production last year following a redevelopment.

Shares of Peabody were up nearly 7% in recent trading.

Price: 14.45, Change: +0.92, Percent Change: +6.80

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