88娱乐城
Located in the Xinjiang Uygur Autonomous Region with access to a dedicated thermal coal resource, the mine is currently under construction and has the potential to expand capacity to as much as 15 million tons annually.
Peabody said the production estimate was in line with plans for new rail infrastructure to serve both power and industrial customers in the central and eastern parts of the country.
"China is leading the world in industrial growth and fuelling its progress with coal," Peabody chairman and CEO Gregory Boyce said.
"Peabody has a growing presence in Asia and seeks to partner in world-class coal projects to fuel long-term energy needs using our state-of-the-art safety, mining and environmental practices that are recognised around the world."
Both companies are planning a feasibility study in the next few months to review the technical requirements for the next phases of the project鈥檚 development. Peabody said this would also cover other reserves in the region owned by Lu'an.
Peabody already has a significant Chinese footprint, including its status as the only non-Chinese partner in the near-zero emissions power project GreenGen in Tianjin.
The company is also looking at multiple Asian partnerships, including a large surface operation and downstream coal conversion facility with the governments of Inner Mongolia, China and other partners, as well as the high-profile Peabody-Polo joint venture in Mongolia.
Lu'an produced 42Mt of coal in 2008 and had $US5 billion in revenues, while Peabody鈥檚 sales last year totalled 256Mt and its revenues topped $6.6 billion.
