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Coal|Financial|Mining
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coal|financial|mining

Peabody secures $320m credit boost for enhanced focus on Australian coal

The Centurion mine in Australia

The Centurion mine in Australia

19th January 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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US-headquartered Peabody has closed a new $320-million senior revolving credit facility, enhancing its financial resiliency during the period of investment at its Centurion mine, in Queensland, Australia.

Formerly known as North Goonyella, the Centurion mine is a key part of reweighing Peabody’s long-term production and revenue toward premium Australian metallurgical coal.

"Over the past two years, we have strengthened our balance sheet and implemented an initial $1-billion share repurchase programme. We are now taking the next steps to achieve our goal of making the Centurion mine a global leader in the metallurgical coal market,” said CFO Mark Spurbeck on Thursday.

Peabody last year reached an agreement to acquire a large portion of the Wards Well coal deposit, adjacent to the existing mine at Centurion. The company will start mining development coal in the first quarter of this year.

Edited by Creamer Media Reporter

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