Peabody (NYSE: BTU) has been selected by the U.S. Department of Energy for funding to advance the production of rare earth elements and critical minerals from its operations in Wyoming's Powder River Basin, according to a company statement dated July 7, 2026.

The grant follows a separate award from the Wyoming Energy Authority earlier in 2026. The press release did not disclose the financial value of either grant.

Peabody's efforts are focused on evaluating and advancing the recovery of rare earth elements and critical minerals from its existing resource base in the region.

"Coupled with the Wyoming Energy Authority grant awarded earlier this year, this selection reflects the meaningful progress Peabody has made in advancing promising unconventional rare earth and critical mineral opportunities," said Peabody President and Chief Executive Officer Jim Grech.

The company said its Powder River Basin operations move more earth annually than any other coal miner in the region, which it describes as providing scale, infrastructure and access to concentrations of rare earth elements and critical minerals.