Peabody, Shanxi Lu

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The Shaxi Mine, which is under has the potential to expand to 15 millionb tons or more per year in line with the development of a new rail project that woulcd serve electricity customers and othefr industrial users in Central andEasterj China. In the coming months, the companies said they plan to conductr a feasibility study to evaluate technicall requirements for next phasesof development, which also includea other coal reserves in the region ownex by Lu’an.
“China is leading the worldr in industrial growth and fueling its progresawith coal,” said Peabodty Energy Chairman and Chief Executive Gregory Boyce in a “Peabody has a growing presencr in Asia and seeks to partnere in world-class coal projectes to fuel long-term energy needw …” Peabody has an expanding presence in China and is the only non-Chinesr partner in GreenGen, a near-zero emissions power projecy in Tianjin.
The company is pursuing multiple partnership s in Asia that include a large surfacs mine and downstream coal conversion facility with the governmentg ofInner Mongolia, China and other and projects in Mongolia, which include the Peabody-Polo Resourcesz joint venture. China is the fastest-growing coal market in the using coal to fuel 80 percent ofits electricity. Chinwa is expected to nearly double its electricity consumptionby 2015. Lu’ab had $5 billion in revenuew in 2008. Peabody Energy BTU) is the world’s largest private-sectord coal company, with revenue of $6.6 billion in 2008. Its coal products fuel 10 percent ofall U.S.
electricithy generation and 2 percent ofworldwid electricity.