ST. LOUIS, June 29, 2012 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today announced the lease of 721 million tons of ultra low sulfur coal reserves adjacent to its North Antelope Rochelle Mine in the Southern Powder River Basin of Wyoming. The company submitted a bid of $1.10 per mineable ton for control of the North Porcupine reserve area to the Bureau of Land Management, which awarded the lease following a sealed bid auction process.
Peabody has successfully leased more than 1.1 billion tons of reserves adjacent to its North Antelope Rochelle Mine in recent months, and the company controls 4 billion tons of coal reserves in the region. Peabody is the market leader in the Powder River Basin as the largest producer and reserve holder. The company is well positioned to serve long-term demand growth for domestic needs and export markets.
Peabody's flagship – the North Antelope Rochelle Mine – is the world's largest and most productive coal mine, shipping 109 million tons of coal this past year.
Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in more than 25 countries on six continents. For further information, go to PeabodyEnergy.com and CoalCanDoThat.com.
SOURCE Peabody Energy