Peabody sees 10% growth in seaborne coal demand this year

Peabody Energy, the largest US coal miner, on Thursday said it expected global demand for coal to increase significantly over the next decade, despite cooling US markets. The NYSE-listed company said coal-fuelled heat and power generation was on...

Peabody 2011 earnings up 23%

Peabody Energy, the world’s biggest private-sector coal miner, on Tuesday posted a 5% quarter-on-quarter rise in earnings for the quarter ended December, as a jump in costs and charges related to its MacArthur Coal acquisition ate into profits....

Peabody expands Australian mines, ups output

US energy major Peabody Energy would increase seaborne coal production at its Wilpinjong and Millennium mines in Australia after expanding both operations. “The successful expansions of Wilpinjong and Millennium increase our annual thermal and...

Peabody takes full control of Macarthur Coal

US energy major Peabody Energy on Wednesday took full control of Australian miner Macarthur Coal, after passing its 90% acceptance threshold. Peabody has now begun a compulsory acquisition of all the outstanding shares of Macarthur Coal, and...

Macarthur bid declared unconditional

The joint venture (JV) acquisitions vehicle between Peabody Energy and ArcelorMittal, PEAMCoal, on Monday declared its takeover offer for ASX-listed Macarthur Coal unconditional, after satisfying the minimum acceptance condition. PEAMCoal has...

Macarthur backs improved Peabody, Arcelor takeover bid

The board of Australian miner Macarthur Coal has agreed to back a takeover offer from US-based Peabody Energy and steel giant ArcelorMittal, after the bidders sweetened their offer to A$16 a share. Macarthur hesitated to give its shareholders a...

Peabody, Arcelor bid for Macarthur open for acceptance

US-based Peabody Energy and steel giant ArcelorMittal have officially declared their joint takeover offer for Australia’s Macarthur Coal open for acceptance. The two parties, which are bidding A$4.7-billion for the coal miner, urged Macarthur...

Peabody, ArcelorMittal to bid A$4.7bn for Macarthur

US-based Peabody Energy has launched a second attempt to buy Australian coal miner Macarthur Coal, this time teaming up with steel giant ArcelorMittal in a deal which valued the ASX-listed company at A$4.7-billion. A new company – 60% owned by...

Peabody profit jumps

Top US coal producer Peabody Energy reported fourth-quarter income from continuing operations of $215,7-million, compared with $113,5-million a year earlier, helped by higher coal prices. Revenue for the quarter rose to $1,82-billion, up from...

Peabody announces plans for Chinese coal, energy projects

The biggest US coal producer, Peabody Energy, has signed agreements with Chinese partners to develop two separate coal and energy projects in northern China. Peabody has agreed to work with China's Huaneng Group and California-based Calera Corp...

Peabody sends PRB coal to Europe, eyes new W Coast port

US coal producer Peabody Energy is exporting production from its Powder River Basin mines to Europe, and expects to see increasing markets for the coal as resource hungry Asian markets put pressure on global supplies. The company is already...

Peabody doubled Q3 profit, raises full-year target

St Louis-based Peabody Energy doubled its earnings in the third quarter, mainly thanks to higher coal sales volumes from the group's Australian mines. The biggest US coal miner said on Tuesday morning it has raised the midpoint of its 2010...