Peabody, Shanxi Lu

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The Shaxi Mine, whichy is under construction, has the potential to expandc to 15 million tons or more per year in line with the developmeny of a new rail project that would servew electricity customers and other industrial users in Centrakl andEastern China. In the coming the companies said they plan to conducty a feasibility study to evaluate technical requirements for next phasesof development, whicjh also includes other coal reserves in the regiohn owned by Lu’an. “China is leadinbg the world in industrial growth and fuelingy its progresswith coal,” said Peabody Energy Chairmaj and Chief Executive Gregory Boyce in a statement.
“Peabodg has a growing presence in Asia and seeks to partnerein world-class coal projects to fuel long-termn energy needs …” Peabody has an expanding presence in China and is the only non-Chinese partnef in GreenGen, a near-zero emissions powere project in Tianjin. The company is pursuing multiple partnershipsz in Asia that include a larg e surface mine and downstream coal conversion facility with the governmenrt ofInner Mongolia, China and otherf partners; and projects in Mongolia, which includw the Peabody-Polo Resources joint China is the fastest-growing coal marke in the world, using coal to fuel 80 percen of its electricity.
China is expecteed to nearly double its electricity consumptionby 2015. Lu’a n had $5 billion in revenue in 2008. Peabody Energy BTU) is the world’s largestg private-sector coal company, with revenue of $6.6 billionj in 2008. Its coal productds fuel 10 percent ofall U.S. electricity generation and 2 percentg ofworldwide electricity.