International Met Coal Demand, Domestic Regulations Provide Niche in Market for Peabody Energy
(firmenpresse) - SUGAR LAND, TX -- (Marketwire) -- 10/26/11 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- Coal miner Peabody Energy Corporation (NYSE:BTU) (St. Louis, Missouri) yesterday announced strong third-quarter earnings results. Quarterly revenues were $2.04 billion, compared to $1.86 billion in the same period of the previous year. In the company's earnings presentation, Peabody Chairman and CEO Gregory Boyce discussed how situations in the U.S. and abroad are working in Peabody's favor.
On Monday, Peabody announced that it had become the majority owner of Australian coal miner Macarthur Coal Limited (Brisbane, Australia), which claims to be the world's largest producer of seaborne low-volatile pulverized coal injection (PCI) coal, which is used in steelmaking. Macarthur has three active mines in Queensland's Bowen Basin and a fourth in development. The acquisition gives Peabody a strong foothold in the growing Asian markets.
Industrial Info is tracking more than $6.7 billion of Peabody Energy projects in the U.S. and Australia and an additional $1.2 billion of Macarthur coal projects. Information on these projects is available in Industrial Info's .
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Joe Govreau
713-783-5147
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Datum: 26.10.2011 - 04:40 Uhr
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News-ID 1049892
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