Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Peabody Energy Corporation    BTU

News SummaryMost relevantAll newsSector news 

Peabody Energy Corporation : Peabody Energy (NYSE: BTU) Submits Successful Bid For 402 Million Tons Of Ultra Low Sulfur Coal Reserves At North Antelope Rochelle Mine

share with twitter share with LinkedIn share with facebook
share via e-mail
05/18/2012 | 04:30pm CEST

ST. LOUIS, May 18, 2012 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today announced the lease of 402 million tons of ultra low sulfur coal reserves adjacent to its North Antelope Rochelle Mine (NARM) in the Southern Powder River Basin of Wyoming. The company submitted the successful bid of $1.11 per mineable ton for control of the South Porcupine reserve area. The bid was conducted through a sealed bid auction process.

The company plans to incorporate the five-square-mile block into its mine plan for NARM following a permitting process. The South Porcupine tract is adjacent to NARM and was originally nominated for lease by Peabody in 2006. A second set of reserves - the North Porcupine area - is also contiguous to NARM. Peabody has nominated North Porcupine for bid, and a lease auction is anticipated in the second quarter.

Peabody now controls 3.3 billion tons of Southern Powder River Basin coal reserves, and the company's flagship NARM is the largest and most productive coal mine in the world, shipping 109 million tons of the world's cleanest coal in 2011. Peabody is well-positioned to serve long-term demand growth for Powder River Basin products in domestic and expanding Asian export markets.

Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, go to PeabodyEnergy.com and CoalCanDoThat.com.

Meg Gallagher
(314) 342-7963

SOURCE Peabody Energy

share with twitter share with LinkedIn share with facebook
share via e-mail
10/20 PEABODY ENERGY CORP : Regulation FD Disclosure (form 8-K)
10/14 PEABODY ENERGY CORP : Entry into a Material Definitive Agreement, Financial Stat..
10/06 PEABODY ENERGY : National Mining Association Recognizes Peabody Energy As First ..
09/27 PEABODY ENERGY : National Mining Association Recognizes Peabody Energy As First ..
09/20 PEABODY ENERGY CORP : Regulation FD Disclosure (form 8-K)
09/16 PEABODY ENERGY CORP : Other Events (form 8-K)
09/09 PEABODY ENERGY : Wambo Underground Mines Rescue Team Earns First Place In First ..
09/01 PEABODY ENERGY : Reaches Agreement With Illinois On Financial Assurances In Supp..
08/23 PEABODY ENERGY : Clinton emails include appeals for meetings with Peabody Energy..
08/23 PEABODY ENERGY : reaches cleanup agreement with Illinois
More news
Sector news : Coal - NEC
10/20DJBHP Billiton Chairman Nasser to Step Down Next Year
10/20DJGlencore Sells Australia Rail Unit in Latest Deal to Cut Debt
10/20DJGlencore to Sell Australia Rail Unit to Genesee & Wyoming? for ?A$1.14 ?B?ill..
10/18 GLENCORE : expands bond buyback as manages debt
10/18 FTSE gets easyJet boost; Burberry falls
More sector news : Coal - NEC
News from SeekingAlpha
2015 Thermal Coal - Will The Industry Go The Way Of The Dodo?
2015 The Future Of Coal Companies
2015 Coal stocks lower following Moody's grim outlook
2015 Gas And Wind Could Displace Coal In Electricity Generation