The Zhitong Finance App learned that as demand for coal in the US weakens, Peabody Energy (BTU.US) reached an agreement to shift the focus to the growth of the global steel market. According to reports, Peabody, the largest coal mining company in the US, agreed on Monday to buy four coal mines of Angloy.US (NGLOY.US) in Australia at a price of 3.78 billion US dollars. These mines supply metallurgical coal, a key raw material for steelmaking. The deal will help Peabody nearly triple its metallurgical coal production in two years, putting the St. Louis company on track to become the world's third-largest exporter.

The Zhitong Finance App learned that as demand for coal in the US weakens, Peabody Energy (BTU.US) reached an agreement to shift the focus to the growth of the global steel market. According to reports, Peabody, the largest coal mining company in the US, agreed on Monday to buy four coal mines of Angloy.US (NGLOY.US) in Australia at a price of 3.78 billion US dollars. These mines supply metallurgical coal, a key raw material for steelmaking. The deal will help Peabody nearly triple its metallurgical coal production in two years, putting the St. Louis company on track to become the world's third-largest exporter.