Peabody (BTU) Expands Wilpinjong, Millennium Mine Ops in Australia
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Peabody Energy (NYSE: BTU) today said it is increasing seaborne coal volumes at its Wilpinjong and Millennium mines in Australia after expanding both operations.
The Wilpinjong thermal coal mine in New South Wales will increase annual production by 2 to 3 million tons beginning in 2012 from the 9.2 million tons in 2010 after completing a preparation plant and coal handling facility expansion. The mine supplies export and domestic markets and is among Australia's most productive surface operations. Capital investment for the project is expected to total approximately $95 million.
The Millennium Mine in Queensland is targeted to increase PCI and semi-hard coal production by 1 to 2 million tons per year when full production is reached in 2013. Peabody has invested approximately $20 million of the expansion capital to date, with the majority of the investment of up to $275 million to be made over the next two years. Millennium sold 1.6 million tons in 2010.
The Wilpinjong thermal coal mine in New South Wales will increase annual production by 2 to 3 million tons beginning in 2012 from the 9.2 million tons in 2010 after completing a preparation plant and coal handling facility expansion. The mine supplies export and domestic markets and is among Australia's most productive surface operations. Capital investment for the project is expected to total approximately $95 million.
The Millennium Mine in Queensland is targeted to increase PCI and semi-hard coal production by 1 to 2 million tons per year when full production is reached in 2013. Peabody has invested approximately $20 million of the expansion capital to date, with the majority of the investment of up to $275 million to be made over the next two years. Millennium sold 1.6 million tons in 2010.
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