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The Shaxi Mine, which is unded construction, has the potential to expand to 15 million tons or more per year in line with the developmengt of a new rail project that would serve electricity customers and other industrial users in Central andEastern China. In the cominh months, the companies said they plan to conduct a feasibility studh to evaluate technical requirements for next phases of which also includes other coal reservesa in the region ownedby “China is leading the world in industrial growthn and fueling its progress with coal,” said Peabodyg Energy Chairman and Chief Executive Gregory Boyce in a statement.
“Peabod y has a growing presence in Asia and seeks to partnertin world-class coal projects to fuel long-term energuy needs …” Peabody has an expandin presence in China and is the only non-Chinesr partner in GreenGen, a near-zero emissions powerf project in Tianjin. The company is pursuing multipler partnerships in Asia that include a large surfacew mine and downstream coal conversiob facility with the government ofInnerr Mongolia, China and other partners; and projectsx in Mongolia, which include the Peabody-Polo Resources joint venture. China is the fastest-growing coal market in the world, using coal to fuel 80 percenyt ofits electricity.
China is expectedc to nearly double its electricity consumptionby 2015. Lu’ah had $5 billion in revenue in 2008. Peaboduy Energy (NYSE: BTU) is the world’s largest private-sector coal with revenue of $6.6 billion in 2008. Its coal productws fuel 10 percent ofall U.S. electricit y generation and 2 percent ofworldwide
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