Peabody Energy signs JV deal to supply coal to China's Shenhua


Peabody Energy (BTU +0.7%) and China's Shenhua Group, China's largest coal company and the world's top coal distributor, agree to form a joint venture to supply Shenhua with coal.

The 50/50 JV, Sino-Pacific Coal Trading, is expected to begin operating in 2014, sourcing coal from key global supply basins to provide Shenhua with thermal coal for its Chinese generating subsidiaries.

BTU says the venture represents a significant milestone in its Asia growth strategy.

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Comments (2)
  • Hubert Biagi
    , contributor
    Comments (862) | Send Message
     
    Yep, if you make it too hard to burn coal in the US, guess what? The coal will get burned in China, under much lower standards for emissions. Gee, and I thought we were all breathing the same atmosphere?!
    18 Dec 2013, 11:01 AM Reply Like
  • Nasir Khan
    , contributor
    Comments (457) | Send Message
     
    Indeed a step in the right direction by Peabody energy. This stock will be a shining star in 2014 and future years. There is tremendous export potential in Asia.
    19 Dec 2013, 07:31 AM Reply Like
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