BTU - Peabody Energy begins process of resuming Shoal Creek coal production
2023-06-21 10:53:30 ET
Peabody Energy ( NYSE: BTU ) said Wednesday it has completed localized sealing of two longwall panels in the area of the Shoal Creek mine affected by a fire in March, and has begun the process of resuming development coal production in a new area where it expects better mining conditions.
The company said Shoal Creek is in a ramp-up period throughout 2023 and is expecting a new longwall kit by the end of this year, thus it does not expect the fire to have a material impact on this year's financial results.
Shoal Creek is a production-stage underground longwall metallurgical coal mine in Alabama, and is Peabody's ( BTU ) only producer of metallurgical coal for export in the U.S.
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Peabody Energy begins process of resuming Shoal Creek coal production