Boyce accepted the honor from the Mining Foundation of the Southwest at the group’s 30th annual awards ceremony in Tucson, Arizona.

“I am both humbled and honored that the foundation has selected me for inclusion in its Mining Hall of Fame, especially since it includes so many individuals from mining's past and present whose visionary work has helped to shape both the industry and the world we live in,” he said.

“We must never lose sight of the critical role that mining plays in a global context. Mining is the first link in a commodities supply chain that sustains economic growth and security on a global scale.”

Boyce, who worked with Kennecott Copper and Rio Tinto before joining Peabody Energy in 2003 as president and chief operating officer, has helped drive significant growth and global expansion for Peabody during his tenure.

In fact, since Boyce joined the producer, Peabody’s revenues increased 265% and earnings per share 774%.

The company has notably expanded its global footprint, with international contributions growing from 1% percent when Boyce took his Peabody seat to half of the company's mining contributions last year.

Boyce was the architect for the Peabody Plan, an initiative to eliminate energy poverty and realize continued improvement in clean coal technologies through the international expansion of state-of-the-art coal-fueled generation.

Foundation president Dr James William White said Boyce's vision to eliminate energy poverty globally was a key factor in a unanimous decision to name him to the 2012 Hall of Fame.

“In addition to showing outstanding leadership throughout his career, Greg has been a tireless advocate for our industry,” he said.

“He continues to educate the public and policymakers alike on the ways in which mining can provide energy solutions that empower people and strengthen economies.”

Boyce, a graduate of the University of Arizona and Harvard University's Graduate School of Business, serves as deputy chairman of the coal industry advisory board of the International Energy Agency and is also a former chairman of the National Mining Association.