Peabody Acquires Australian Mine
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ST. LOUIS, – Peabody Energy today said it has agreed to acquire Thiess Investments Party Ltd’s 5 percent joint venture interest in the Burton Mine for $35 million Australian. The transaction will give Peabody 100 percent ownership of the hard coking coal operation in Queensland, Australia and will add an additional 165,000 to 275,000 tons of annual volumes to Peabody’s metallurgical coal portfolio.
Peabody Energy is the world’s largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.
SOURCE Peabody Energy