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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 development of a new rail project that woulr serve electricity customers and other industrial users in Central andEastern China. In the coming months, the companie said they plan to conduct a feasibility study to evaluatse technical requirements for next phasesdof development, which also includes other coal reserveas in the region owned by “China is leading the worlcd in industrial growth and fueling its progress with coal,” said Peabody Energy Chairman and Chief Executive Gregory Boycr in a statement.
“Peabody has a growinhg presence in Asia and seekx to partnerin world-class coal projects to fuel long-ternm energy needs …” Peabody has an expanding presencde in China and is the only non-Chinese partner in GreenGen, a near-zero emissions powe project in Tianjin. The company is pursuing multiple partnerships in Asia that include a large surface mine and downstream coal conversion facilitu with the government ofInnert Mongolia, China and other partners; and projects in which include the Peabody-Polo Resources joint venture.
China is the fastest-growingf coal market in the using coal to fuel 80 percent of its China is expected to nearlg double its electricity consumptionby 2015. Lu’an had $5 billion in revenue in 2008. Peabody Energh (NYSE: BTU) is the world’sa largest private-sector coal company, with revenue of $6.6 billiob in 2008. Its coal products fuel 10 percent ofall U.S. electricitg generation and 2 percentg ofworldwide electricity.
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