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Other Events | 3 Months Ended
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Mar. 31, 2025
Other Events [Abstract] |
Other Events | Other Events Planned Anglo American Acquisition On November 25, 2024, Peabody entered into definitive agreements (the Purchase Agreements), to acquire from Anglo a portion of the assets and businesses associated with Anglo’s metallurgical coal portfolio in Australia, including Anglo’s interests in the Moranbah North and Grosvenor mines, the Moranbah South development project, the Capcoal complex, the Roper Creek mine and the Dawson complex (comprising the Dawson Main/Central operating mine, the Dawson South operating mine, the Dawson South Exploration project and the Theodore South exploration project, collectively, the Dawson Assets). The Company has agreed to, following the prospective closing of the Anglo acquisition, sell the Dawson Assets to BUMA. The Purchase Agreements required Peabody to acquire the balance, or a portion thereof, of the remaining interest in the Moranbah North and Grosvenor mines upon receipt of a tag-along notice from any joint venture participant (the Tag-Along Notice). On January 15, 2025, Peabody received a Tag-Along Notice pursuant to which Peabody acquired an additional 0.5% interest in the Moranbah North and Grosvenor mines for consideration of up to approximately $13 million. The Purchase Agreements, as adjusted for the receipt of the Tag-Along Notice, contemplate an upfront cash payment of $2.058 billion, including a deposit of $75.0 million paid to Anglo upon execution of the Purchase Agreements, and fixed deferred cash payments totaling $726.0 million that will be payable in annual installments over a four-year period commencing on the first anniversary of the closing date of the acquisition, and additional contingent cash payments capped at $1.004 billion, comprised of (a) royalty payments contingent on the price of coal exceeding agreed-upon thresholds for each of the five years following the closing date of the acquisition and (b) payments contingent on the potential restart of the Grosvenor mine. The total consideration for the acquisition would be up to approximately $3.788 billion if the maximum amounts under the contingencies described above become payable. On May 5, 2025, Peabody announced that it had notified Anglo and BUMA of a Material Adverse Change (MAC) impacting Peabody’s planned acquisition. The MAC relates to issues involving the Moranbah North Mine, which remains inactive following what was described as a gas ignition event on March 31, 2025. If the MAC is not resolved to Peabody’s satisfaction in the limited timeframe specified under the Purchase Agreements, Peabody may elect to terminate the Purchase Agreements.

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