Peabody Energy (NYSE: BTU) Submits Successful Bid For 402 Million Tons Of
Ultra Low Sulfur Coal Reserves At North Antelope Rochelle Mine
ST. LOUIS, May 18, 2012
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. Asecond
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
SOURCE Peabody Energy
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