Peabody looks for Chinese joint ventures

PEABODY Energy is assessing joint ventures with Chinese firms to mine coal in China, Peabody China president Tayeb Tahir told news outlet Thomson Financial at a coal conference in the country this week.
Peabody looks for Chinese joint ventures Peabody looks for Chinese joint ventures Peabody looks for Chinese joint ventures Peabody looks for Chinese joint ventures Peabody looks for Chinese joint ventures

Courtesy Peabody Energy

Angie Tomlinson

Tahir said Peabody was currently in discussions with several Chinese companies and would be focusing on opencut coal mines in the country, but did not rule out underground mining also.

He told Thomson Financial that Peabody and China's number one coal producer, Shenhua Group, would also like to collaborate on coal projects outside China, particularly in Australia.

Tahir was appointed president of Peabody China in October this year as part of the company's growth strategy in the county.

At the time, Peabody executive vice-president Richard Navarre said the move was part of Peabody's strategy to leverage China's growth potential in the longer term by collaborating on ventures with local organisations.

Peabody's Beijing office opened its doors in late 2005 and commenced trading there this year.

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