Peabody says Shoal Creek fire won’t impact 2023 results

21st June 2023 By: Creamer Media Reporter

Top US coal producer Peabody Energy has managed to seal off two longwall panels in the area of the Shoal Creek mine, which was impacted by a fire in March and has begun the process of resuming development coal production in a new area that should have better mining conditions.

Shoal Creek is in a ramp-up period throughout 2023 and a new longwall kit is expected by the end of the year, the NYSE-listed company says.

“Peabody does not expect the current incident to have a material impact on the company’s 2023 financial results,” says the coal miner.

Shoal Creek is a production-stage underground longwall metallurgical coal mine west of Birmingham.

The mine extracts coal from the Mary Lee and Blue Creek coal seams at depths of 1 000 to 1 300 feet.