ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Peabody Energy (NYSE: BTU) and China's Shenhua Group Create Joint Venture to Supply Shenhua with Coal from Peabody's Global Platform

Print | 
Email |  Comment   Share  

Peabody Energy
701 Market St.
Saint Louis, MO, 63101
USA



Press release date: December 19, 2013

ST. LOUIS - Peabody Energy (NYSE: BTU) and China's Shenhua Group today announced they have entered into an agreement to create Sino-Pacific Coal Trading Corporation Pte. Ltd., a Singapore-based joint-venture company that will supply Shenhua's growing coal import demand with thermal coal from Peabody's global production and coal trading platform.

Peabody Energy President - Asia and Trading Christopher J. Hagedorn said the new 50/50 joint venture between the two companies represents a significant milestone in Peabody's Asia growth strategy.

"Globally, Shenhua is one of the world's largest importers of thermal coal and this important partnership will give Peabody a priority position to supply Shenhua's growing import needs with coal from Peabody's expanding global platform," said Hagedorn.  "Annual world coal demand is expected to grow by 1.2 billion tonnes in the next five years, with more than 80 percent of projected global demand growth in China and India.  Over the last decade, Peabody has been reshaping its global platform to better serve this high-growth region."

Subject to regulatory review, Sino-Pacific Coal Trading Corporation is expected to begin operating in 2014, sourcing coal from key global supply basins to provide Shenhua with thermal coal for its Chinese generating subsidiaries.

The Shenhua Group is the largest coal company in China and the largest coal distributor in the world. It is a large-scale energy company, which takes coal as its foundation, covers electric power, railway, port, shipping, coal-to-liquids and coal-to-chemicals, and integrates production, transportation and sales.  As of the end of November of 2013, Shenhua had more than 65 million kilowatts of installed power generation capacity.

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 (http://www.peabodyenergy.com) and CoalCanDoThat.com (http://www.coalcandothat.com).

Contact:

Meg Gallagher
+1-314-342-7963

Source
Peabody Energy


Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See more product news in:
Materials and Material Processing
| Featured Manufacturing Jobs
 Other News from this company:
Peabody Energy (NYSE: BTU) to Announce Results for the Quarter Ended March 31, 2011
Peabody Energy Chairman and CEO Greg Boyce Calls on Energy Leaders to Lift Billions from Poverty and Meet Rapidly Rising Energy Demand
Peabody Energy Enters into Coal Sourcing Agreement Accessing Indonesian Coal for Export
Peabody Energy and Yankuang Group Co. Ltd. to Pursue Development of Wucaiwan Energy Center in Xinjiang, China
More ....
 Tools for you
Watch Company 
View Company Profile
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Coal
Join the forum discussion at:
Hard to Handle


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address