MARKETS

New president for Peabody China

PEABODY Energy today announced that Mark N Schroeder has been named president of Peabody China, reporting to chief financial officer and executive vice-president of corporate development Richard A Navarre.

Staff Reporter
New president for Peabody China

Schroeder will be responsible for overseeing Peabody's business development activities in China, as well as coordinating coal marketing and trading.

He will also relocate to Peabody's Beijing office to pursue business development opportunities in the world's fastest-growing economy.

Peabody president and chief executive Gregory H Boyce said Peabody's China strategy focuses on safe mine development in partnership with respected major China coal companies.

“We look forward to pursuing business opportunities of mutual interest and expanding our coal sales and trading presence," he said.

Schroeder is currently vice-president of materials management and has held several management positions with Peabody. He has more than 20 years of business experience, including management positions with Boeing and Ernst & Young, LLP.

China is the world's largest and fastest-growing coal-consuming nation, with annual coal demand of approximately 2 billion tons in 2005.

China is expected to develop more than 90,000 megawatts of coal-fuelled electricity generating plants by 2008, and is investing in coal gasification and coal-to-liquids technologies.

Long-term growth potential is great, as per-capita coal use in China is currently just one-third that of the United States.

Peabody Energy is the world's largest private-sector coal company, with 2005 sales of 240 million tons of coal and $4.6 billion in revenues. Its coal products fuel approximately 10% of all US electricity and 3% of electricity worldwide.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production

editions

Mining Magazine Intelligence Automation Report 2023

An in-depth review of operations using autonomous solutions in every region and sector, including analysis of the factors driving investment decisions

editions

Mining Magazine Intelligence Exploration Report 2023 (feat. Opaxe data)

A comprehensive review of current exploration rates, trending exploration technologies, a ranking of top drill intercepts and a catalogue of 2022 Initial Resource Estimates and recent discovery successes.