Reflecting the importance Peabody is placing on the two countries, the company hopes Sayed’s appointment will help to develop business initiatives in the region, Peabody president and chief commercial officer Richard A Navarre said.

“Arshad has extensive experience in Mongolia and India, and he brings with him strong relationships in the region that will allow him to advance Peabody's Asian growth initiatives,” he said.

“His experience with The World Bank Group ensures he will advance our goals using the highest standards for ethics, operations and the environment.”

Sayed represented The World Bank in various positions for more than 15 years. He served in the bank's corporate strategy group, leading innovation and strategy initiatives, and as senior strategy and operations officer in the office of the vice-president for Europe and central Asia.

Before this, he founded a start-up company and worked for the government of Maharashtra in India.

Sayed recently completed a four-year appointment as country manager and resident representative for The World Bank in Mongolia, where he was responsible for policy and program negotiations; developing new lines of business for the bank relating to mining and mining infrastructure; and coordinating relationships with the private sector and government, including involvement in the development of mining projects in the country.

He holds a Bachelor of Commerce degree in business administration, and attained Masters degrees from the University of Bombay, India, and from Columbia University in New York.

In other news, Peabody has earned two environmental honors for its restoration of about 850 acres near Wheatcroft, Kentucky, which resulted in the creation of pasture for livestock, and thriving habitats for fish and wildlife.

The state Department of Natural Resources 2010 Commissioner's Award of Excellence in Reclamation recognizes Peabody's work to restore the former underground mine surface lands in Webster and Union counties.

The Kentucky Division of Mine Reclamation and Enforcement nominated Peabody, citing the company's exceptional work and environmental commitment in restoring the site, which it acquired but never mined.

In addition, the Department of Natural Resources and the Kentucky Coal Association jointly honored Peabody's environmental leadership on the same project and presented the company with the Outstanding Reclamation Award.

The site's restoration began in 2004 and was completed this past May.

Peabody removed all mine structures, including concrete silos, access slopes and ventilation shafts. The project involved reclaiming a 400-acre fill and adjacent impoundment while creating highly effective drainage control as a part of the process. Peabody exceeded state requirements for soil replacement and seeding across much of the restored lands.

“During this complex restoration project, our environmental team created a healthy, sustainable environment for plants and wildlife in Kentucky,” Peabody executive vice-president and chief operating officer Eric Ford said.

“Peabody has a tradition of being a good neighbor. This includes returning lands to a condition that is equal to or better than before mining occurred and often more productive than native lands.”

Peabody restored more than 3700 acres company-wide, planted more than 250,000 trees and recycled more than 19,000 tons of materials in 2009, while creating $US15 billion in direct and implied economic benefits in communities around the world.