Overview

• Peabody terminated its planned purchase of Anglo American’s Australian steelmaking coal assets, citing a material adverse change from the March ignition that halted Moranbah North longwall output.
• Anglo contends the incident does not meet the MAC threshold, pointing to a lack of mine and equipment damage and progress toward restart, and it is initiating arbitration to seek damages for alleged wrongful termination.
• The portfolio covered five Bowen Basin operations — Moranbah North, Capcoal, Dawson, Aquila and Grosvenor — and a related Dawson sale to PT Bukit Makmur Mandiri Utama was also scrapped.
• Peabody signaled a shift to other priorities, highlighting growth from its Centurion Mine in Australia and a plan to return 65–100% of free cash flow to shareholders.
• Shares reacted to the announcement, with Peabody up about 8% premarket in New York and Anglo American rising roughly 1.9% in London.