Peabody (NYSE: BTU) today announced that the North Goonyella Mine will now be known as the Centurion Mine.
In October, the Company reached an agreement to acquire a large portion of the Wards Well coal deposit adjacent to the existing North Goonyella Mine. The new name reflects the pending addition of the acquired resources, creating a premier, tier one premium hard coking coal mine with a life of 25 years or more.
“The combined resources will make Centurion Mine a global leader in the metallurgical coal market,” Jamie Frankcombe, Peabody’s President of Australian Operations said. “We are excited for the long future of this operation.”
The Centurion Mine remains on track to commence mining of development coal in the first quarter of 2024. The project is expected to reweight Peabody’s long-term production and revenue toward metallurgical coal when longwall production commences in 2026.
Peabody is a leading coal producer, providing essential productions for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future.