At September 30, 2024, Peabody has completed approximately $250 million of the anticipated $489 million of initial development capital to achieve longwall production in March 2026. With a $210 per metric ton benchmark price assumption, Centurion has an estimated net present value of $1.6 billion and a 25 percent internal rate of return.

"Peabody is committed to increasing shareholder value through a balanced approach of maximizing shareholder returns and developing Centurion," Mark Spurbeck, Peabody's Chief Financial Officer, said. "Centurion provides increased optionality to tightening metallurgical coal markets and will be a strategic asset in Peabody's global coal portfolio for decades."