Peabody, Shanxi Lu

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The Shaxi Mine, which is under has the potential to expan to 15 million tons or more per year in line with the developmentg of a new rail projectt that would serve electricity customers and other industrialk users in Central andEastern China. In the comingt months, the companies said they plan to conduct a feasibilityt study to evaluate technical requirementw for next phasesof development, which also includes othedr coal reserves in the region ownec by Lu’an. “China is leading the worldd in industrial growth and fuelint its progresswith coal,” said Peabody Energy Chairman and Chiecf Executive Gregory Boyce in a statement.
“Peabodg has a growing presence in Asia and seeksz to partnerin world-class coal projects to fuel long-ter m energy needs …” Peabody has an expandin g presence in China and is the only non-Chiness partner in GreenGen, a near-zero emissions power project in The company is pursuing multiplr partnerships in Asia that include a large surface mine and downstream coal conversion facility with the government of Innee Mongolia, China and other and projects in Mongolia, which includre the Peabody-Polo Resources joint venture.
China is the fastest-growin g coal market in the using coal to fuel 80 percent of its China is expected to nearly double its electricit consumptionby 2015. Lu’an had $5 billiobn in revenue in 2008. Peabodyg Energy (NYSE: BTU) is the world’s largesg private-sector coal company, with revenue of $6.6 billion in 2008. Its coal productx fuel 10 percent ofall U.S. electricity generationn and 2 percent ofworldwide