Peabody Energy has signed a definitive agreement to purchase the Shoal Creek metallurgical coal mine located on the Black Warrior River in Alabama from private coal producer Drummond Co. Inc. for $400 million. Shoal Creek serves Asian and European steel mills with high-vol A coking coal.

Peabody will purchase the mine, prep plant and supporting assets. The agreement excludes legacy liabilities other than reclamation. The transaction is expected to close before the end of 2018.
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