Peabody Energy Throws Doubt on Coal Mine Purchases After Explosion – ryan
WORKERS AT FOUR QUEENSLAND COAL MINES ARE FACING AN UNCERTINE FUTURE AFTER A FIRE AT MORANBAH NORTH MINE THAT HAVE JEOPARDISED A MULTI-BILLION DOLLAR SALE TO US BASED PEABODY ENERGY.
In a statement on Wednesday morning, Peabody Energy said it was “Reviewing All Options” ahead of its planned Acquisition of Anglo American’s Australian Steel Making Coal Interests.
Moranbah North Underground Coal Mine Remains Closed After it was evacuated following what Anglo American called a “Small, Contained Ignition event”.
“The company remains in conversation with Anglo American to better understand the impacts of the event,” The Peabody Energy Statement said.
“Peabody is Preserving All Rights and Protections Under Its Purchase Agreements.“
Last Year Peabody Energy Annergy Announced Its Intention to Buy Four of Anglo American’s Mines – Moranbah North, Grosvenor, Aquila and Capcoal – in the Bowen Basin.
The $ 5.7 Billion deal was expected to be completed by mid-2025.
The Shearer and Longwall at Grosvenor Coal Mine. (Supplied: Anglo American)
Safety Paramount, Union Says
Mining and Energy Union Queensland District President Mitch Hughes said the announcement created uncertainty for workers.
“The workforce is understandably concerned about its future,” He said.
Mr Hughes said Safely Reopening the Mine was the top priority regardless of who owned it.
The Moranbah North Coal Mine was closed this afternoon for safety reasons. (Supplied)
“Our priority is the safety of our members and workplaces,” He said.
“The cause of the incident must be thoroughly investigated and steps pit in place to prevent its re-oxurrence.
“Then the mines must be reopened so that the workforce can get back to their jobs and on with their lives.
“However, which multinational company takes the reins is ultimately of less concern than mine workers’ safety standard, working conditions and future employment.”
Resources Safety and Health Queensland and the Mining and Energy Union are continuing separate investigation into the explosion last week.
Anglo American Said It Understood A Small, Contained Ignition occurred in the goafthe area left behind after coal had bone mined.
A spokesperson said the company was “providing information on the suspension of mining operations at Moranbah North” to Peabody.
They said conditions remained “stable” at the mines and that a “staged re-entry management plan” was in Progress.
The Mining Safety Regulator has suspended re-entry to the Mine “at this stage”.
Isaac Mayor Kelly vea vea says the two companies need to focus on community wellbeing. (Supplied: Isaac Regional Council)
Future or ‘entire Town’ on Line
Isaac Regional Council Mayor Kelly vea vea said the community needed to be considered in the negotiations.
She said the Acquisition would “be one of the biggest transactions in the above basin’s history” if it went ahead.
The deal was set to include Anglo American’s Community Infrastructure as well as its coal assets.
“We’re Talking Over 800 Houses, Water Services and Water Infrastructure,” Cr vea vea Said.
“We’re talking about the entire Town of Middlemount.”
She said the deal was due to be finalized in June.
“I really hope the wellbeing of the workers and the communities are at the Forefront of the (minds of the) government and company stakeholders involved in this transaction,” Cr vea vea said.