Peabody Energy to sell New Mexico, Colorado assets for $358 million

The Peabody Energy building in downtown St. Louis. | Nicole Lunger/Missouri Business Alert
The Peabody Energy building in downtown St. Louis. | Nicole Lunger/Missouri Business Alert

Peabody Energy Corp. said it agreed to sell its New Mexico and Colorado coal assets to Bowie Resource Partners LLC for $358 million in cash.

Bowie will also assume about $105 million in related liabilities, St. Louis-based Peabody said.

The deal includes the El Segundo and Lee Ranch mines in New Mexico and the Twentymile Mine in Colorado, which have combined coal reserves of about 330 million tons.

The sale stems from a years-long industry-wide slump in prices of steel-making and power-generating coal.

Read more from the St. Louis Post-Dispatch


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