India, May 6 -- U.K.-headquartered mining company Anglo American plc (AAL.L) on Tuesday announced that it expects to continue working with Peabody towards addressing its concerns and satisfying the remaining customary conditions in respect of the planned sale of Anglo American's portfolio of steelmaking coal mines in Australia to U.S.-based Peabody Energy Corporation (BTU).
The clarification follows Peabody notifying Anglo American that the issues involving the Moranbah North Mine constituted a Material Adverse Change as per the deal terms. The definitive agreements in respect of the proposed sale were announced on November 25, 2024.
The dispute between the two companies was triggered by an ignition that occurred in the goaf at Anglo Amer...