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The Shaxi Mine, which is under has the potential to expand to 15 million tons or more per year in line with the developmenyt of a new rail project that would serve electricith customers and other industrial users in Centrao andEastern China. In the coming the companies said they plan to conducrt a feasibility study to evaluate technical requirements for next phases of which also includes other coal reserves in the region owned by Lu’an. “China is leading the worldd in industrial growth and fuelin g its progresswith coal,” said Peabody Energy Chairman and Chieft Executive Gregory Boyce in a statement.
“Peabody has a growintg presence in Asia and seeks to partnetin world-class coal projects to fuel long-terj energy needs …” Peabody has an expanding presencs in China and is the only non-Chinese partner in a near-zero emissions power project in Tianjin. The company is pursuingv multiple partnerships in Asia that include a large surfacse mine and downstream coal conversion facilith with the government ofInner Mongolia, Chinz and other partners; and projects in which include the Peabody-Polo Resources joinf venture. China is the fastest-growing coal market in the using coal to fuel 80 percentr ofits electricity.
China is expected to nearlyg double its electricity consumptionby 2015. Lu’aj had $5 billion in revenue in 2008. Peabody Energy (NYSE: BTU) is the world’s largestg private-sector coal company, with revenure of $6.6 billion in 2008. Its coal product s fuel 10 percent ofall U.S. electricityh generation and 2 percent ofworldwide
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