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Posted on: Sept. 21, 2018, 2:31 p.m.
By Cecilia Jamasmie US coal producer Peabody Energy (NYSE: BTU), the world’s largest privately owned producer of the fossil fuel, said Friday it had agreed to buy Shoal Creek metallurgical coal mine in central Alabama from Drummond Co. for $400 million. Located on the Black Warrior river, the mine serves the Asian and European steel mills with high-vol A coking coal. The transaction involves the purchase of the mine, preparation plant and supporting assets, excluding legacy liabilities other than reclamation. Full investment news article