BTU - Peabody Energy discloses fire at Alabama mine; impact on operations unclear

2023-03-29 16:48:38 ET

Peabody Energy ( NYSE: BTU ) -2.8% post-market after saying a fire occurred Wednesday at its Shoal Creek Mine in Alabama involving void fill material utilized to stabilize the roof structure of the mine.

Peabody ( BTU ) said the incident is under investigation, and it is not yet able to provide estimates related to impact of the fire on the mine or on the company's overall operations.

The Shoal Creek Mine produced ~800K tons of coal in 2022.

"The Mine Safety and Health Administration has been notified of the incident and is working with mine personnel to monitor the underground environment and determine a safe plan for mine re-entry," the company said.

Peabody Energy ( BTU ) is "one of the cheapest coal producers out there," but is poised for a potential 2023 special dividend or massive buyback, Bram de Haas writes in an analysis published recently on Seeking Alpha .

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