DATE: 3 December 2020

SOURCE: Media release by Peabody Australia

A spokesperson for Peabody, owners of Helensburgh's Metropolitan Mine, has issued this statement:

"Due to challenging coal market conditions Peabody has decided to idle its Metropolitan Mine for an eight-week period beginning January 4, 2021.

"The COVID-19 pandemic has presented tremendous challenges to coal miners and, while a slow global recovery is underway, including in steelmaking and industrial activity, this recovery is in very early stages. 

"As a result, global coal demand and pricing remain under intense pressure and are weighing heavily on the current economic position of the mine.

"Mine managers have openly conveyed this decision to our employees, including the ability for them to access paid leave for the idle period. 

"Peabody thanks all employees of Metropolitan for their efforts throughout this challenging year.

"The company is offering employee assistance and counselling services to our workforce and their families should they need help dealing with these tough times for our sector."