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 newsTweets 

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 CET

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
01/16 PEABODY ENERGY : Statement by Peabody Energy
01/15 PEABODY ENERGY : Ex-Peabody executive joins fight against company's reorganizati..
01/12 PEABODY ENERGY : Provides Further Update Regarding Plan Of Reorganization
01/08 ARCH COAL : Plans falter for West Coast coal terminals
01/07 PEABODY ENERGY : Provides Update Regarding Additional Support For Its Plan Of Re..
01/06 PEABODY ENERGY : provides update regarding plan of reorganization
01/05 PEABODY ENERGY : Bankruptcy Filings Stories from the Bankruptcy Court Dockets
01/04 PEABODY ENERGY : Moving Toward Emergence from Chapter 11
01/02 CHINA COAL ENERGY : Commodity updates - norway wealth fund blacklists more coal ..
2016 PEABODY ENERGY : extends debt deadline
More news
Sector news : Coal - NEC
01/16 GLENCORE : Dreyfus, Amaggi sell stake in Brazil JV to Japan's Zen-Noh
01/04DJNigeria Awards 39 Crude-Oil Term Contracts for 2017
2016 European shares post small loss for 2016, Britain's FTSE hits record high
2016 FTSE inches higher as miners rally
2016 FTSE ends at two-month high helped by oil stocks
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