" Peabody is BTU, and Btu is energy. Peabody serves high-growth markets, lighting lives and fueling economies in more than 25 nations on six continents. Peabody is the only global pure-play coal investment and a global leader in clean coal solutions. From mine to rail, rail to ports and ports to plants… Peabody is fueling the world with energy essential to sustain life and grow economies. "
Peabody Energy (NYSE: BTU) today announced an agreement to establish a joint venture between Peabody's Wambo Open-Cut Mine and Glencore's United Mine in New South Wales, Australia. The joint venture is expected to deliver significant synergies by improving productivity, lowering costs and extending mine life.
Peabody Energy's 8 million pound dragline completed a historic journey from the company's Lee Ranch Mine northwest of Grants, New Mexico, more than 20 miles to its new home at the El Segundo Mine. One of the world's most massive machines, the 1570-W dragline crossed the high desert, carried by a specialized 600-wheel vehicle. NASA uses a similar transportation method to haul space shuttles.
Australia's competition watchdog Thursday proposed allowing a group of coal miners to bargain collectively for access to the rail network connecting mines in Queensland state's Bowen Basin with the port of Abbot Point.