Opened to better serve its European client base, the office will be headed up by John Hanekamp.
“Europe is the largest and most liquid of the global coal trading markets,” company president Gregory Boyce said of the operator’s decision to open the office.
“Peabody is a premier global coal producing and trading company, and our European office supplements activities in China, Australia, South America and the United States.”
Peabody’s portfolio, it said, includes more than 400 customers in 20 countries.
Peabody is enjoying growth domestically as well: earlier this week, the company said it had inked a deal to provide 1 million tons of coal as part of a long-term agreement with fuel technologies outfit Rentech for the development of the first commercial coal-to-liquids facility in the US.
Additionally, it said, it will provide up to $US10 million in funding for the engineering and development of the Illinois project and retain a 20% equity interest.