Peabody Energy's Wilpinjong Mine Ships First Coal to Newcastle Coal Infrastructure Group (NCIG) Expo

Written by Super User

Created on Wednesday, 14 December 2011 10:18

ST. LOUIS, Feb. 22 /PRNewswire-FirstCall/ -- The world's largest private-sector coal company has shipped the first coal to the newly constructed 30 million tonne-per-year NCIG export terminal in Newcastle, Australia. The coal was delivered from Peabody's highly productive and low-cost Wilpinjong surface mine in New South Wales. The terminal is set to begin exports in April.

"NCIG is perfectly timed to increase throughput as Australia continues to set export records," said Peabody Executive Vice President and Chief Operating Officer Eric Ford. "These volumes are vital for consumers in Pacific Rim nations that have growing needs for quality coal. Asian nations are forecast to account for more than 90 percent of global coal demand growth in the next two decades. We're pleased Peabody could be part of a history-making event for Australia's coal industry."

Peabody is investing in a major capital program to expand its Australia metallurgical and thermal platform and is set to nearly double export volumes by 2014. Peabody has the second-largest interest in the NCIG terminal and long-term expansion plans at NCIG ultimately will increase terminal throughput to 66 million tonnes per year.

Peabody Energy (NYSE:BTU) had 2009 sales of 244 million tons and $6 billion in revenues. Peabody owns nine metallurgical and thermal mines in Queensland and New South Wales that last year shipped 22.3 million tons of coal. Peabody's coal products fuel 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

 

[ Back ]