Peabody announced that its North Goonyella mine in Queensland, Australia, will now be known as the Centurion mine. In October, the company reached an agreement to acquire a large portion of the Wards Well coal deposit adjacent to the existing North Goonyella mine. The new name reflects the pending addition of the acquired resources, creating a premier, tier one premium hard coking coal mine with a life of 25 years or more.
“The combined resources will make the Centurion mine a global leader in the metallurgical coal market,” said Jamie Frankcombe, president of Peabody’s Australian Operations. “We are excited for the long future of this operation.”
The Centurion mine remains on track to commence mining of development coal in the first quarter of 2024. The project is expected to reweight Peabody’s long-term production and revenue toward metallurgical coal when longwall production commences in 2026.
North Goonyella was idled because of fire in the third quarter of 2018. Since commencing redevelopment in late 2022, Peabody has invested more than $53 million ventilation, equipment, conveyors, and infrastructure updates. Prior to the Wards Well acquisition, North Goonyella had more than 70 million tons of reserves.
