U.S.-based coal mining company Peabody Energy has acquired the Shoal Creek coal mine along the Black Warrior River from metal and mining company Drummond Co.
Under the deal, Peabody Energy paid $387 million for Shoal Creek coal mine, consisting of a preparation plant and logistical assets, to Drummond Co.
Shoal Creek mines, which in 2017 produced 2.1 million tons of metallurgical coal selling 2.4 million tons, generated $387 million in revenues.
With this acquisition, Peabody Energy expects to offer significant strategic and financial benefits for its mining sector.