Peabody commits to coal despite North Goonyella sale

Peabody Energy says it remains committed to coal mining in Australia, despite launching a sale process for a troubled Queensland asset that was once its most profitable mine.

The Financial Review is reporting BHP looms as a natural player in the future of Peabody’s stalled North Goonyella coking coal mine, which was significantly diminished in 2018 when high gas levels sparked an underground fire.

The fire has permanently quarantined sections of the mine’s high-quality coking coal resource and forced a production halt that could last four years by the time Peabody has secured government approvals to restart.

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