This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Peabody Energy Begins Production From Wilpinjong And Millennium Mine Expansions In Australia

ST. LOUIS, Dec. 14, 2011 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today said it is increasing seaborne coal volumes at its Wilpinjong and Millennium mines in Australia after expanding both operations. 

"The successful expansions of Wilpinjong and Millennium increase our annual thermal and metallurgical coal supplies to serve the highest-demand regions by a combined 3 to 5 million tons," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce.  "With the recent acquisition of Macarthur Coal and additional Australian mine expansions over the next several years, Peabody plans on a rising share of our earnings to come from the world's largest coal exporting nation."

The Wilpinjong thermal coal mine in New South Wales will increase annual production by 2 to 3 million tons beginning in 2012 from the 9.2 million tons in 2010 after completing a preparation plant and coal handling facility expansion.  The mine supplies export and domestic markets and is among Australia's most productive surface operations.  Capital investment for the project is expected to total approximately $95 million

The Millennium Mine in Queensland is targeted to increase PCI and semi-hard coal production by 1 to 2 million tons per year when full production is reached in 2013.  Peabody has invested approximately $20 million of the expansion capital to date, with the majority of the investment of up to $275 million to be made over the next two years.  Millennium sold 1.6 million tons in 2010.

Peabody also has reached a 10-year agreement with the Australian Rail Track Corporation for below-rail track access in the Hunter Valley rail network, beginning in January 2012.  The contract covers expansion volumes from the Wilpinjong and Wambo mines in line with contracts and allocations in place with export terminals at the Port of Newcastle.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs