Media Statement - Peabody acquisition

Published on 26 November 2024

COUNCIL WELCOMES PEABODY CEO'S COMMITMENT TO DELIVER LONG TERM VALUE

Anglo American has announced the sale of its five Bowen Basin coal mines to Peabody Energy, marking a new chapter to these operations and the local communities that rely on them.

Isaac Regional Council Mayor Kelly Vea Vea said Peabody Energy President and CEO Jim Grech’s comments about long term value and social license were a positive sign for communities that function because of long-term agreements associated with the mines purchased by Peabody.

“It’s encouraging to hear their global president emphasise a commitment to creating long-term value and strengthening their social license to operate,” Mayor Vea Vea said.

“Over the last 24 years, Anglo American have built a portfolio of social commitments consisting of historical arrangements like water and housing supply to more recent support of childcare and medical services.

“It’s my Council’s expectation that Peabody steps up to the plate when it comes to upholding standards set in community by Anglo American.

“While workers will change shirts, expectation is that Peabody will not leave Moranbah and Middlemount worse off with their ownership.”

Mayor Vea Vea confirmed letters will go out today requesting a meeting with Mr Gresch and the Peabody Energy team to occur as soon as possible.

“We want to make sure that Peabody understands the community’s expectations and the importance of upholding the heart-and-soul investment in the communities that support them,” Mayor Vea Vea said.

Visit https://peabodyenergy.investorroom.com/2024-11-25-Peabody-to-Acquire-Tier-1-Australian-Metallurgical-Coal-Assets-from-Anglo-American for more information on the acquisition.

ENDS