Peabody Energy has terminated its $3.8 billion acquisition deal for Anglo American's steelmaking coal assets, citing a material adverse change following a fire at Anglo's Moranbah North Mine in Australia. Anglo American disputes Peabody's use of the material adverse change clause and has announced plans to pursue arbitration to seek damages for what it calls a wrongful termination. The termination represents a setback to Anglo American's restructuring plans. Separately, Chile's state-owned copper producer Codelco announced it will lower its 2025 copper production guidance to between 1.34 million and 1.37 million tonnes following a deadly tunnel collapse at its El Teniente mine. The accident has increased projected losses to approximately $340 million and is estimated to have reduced El Teniente's output by 33,000 tons, impacting the division's production by about 10%. Despite a 9.3% increase in production in the first half of 2025, Codelco's profits have declined by 59%, and the company faces challenges recovering from deteriorating ore quality exacerbated by the accident.