Peabody Energy Corporation (NYSE: BTU), is the largest private-sector coal company in the world. Its primary business consists of the mining, sale and distribution of coal, which is purchased for use in electricity generation and steelmaking. Peabody also markets, brokers and trades coal through offices in China, Australia, Germany, the United Kingdom, Indonesia, Singapore and the United States. Other commercial initiatives include the development of mine-mouth coal-fueled plants, the management of coal reserve holdings, and technologies to transform coal to natural gas and transportation fuels.
The coal produced by Peabody Energy fuels approximately 10% of the electricity generated in the United States and 2% of electricity generated throughout the world, based on recorded sales in 2010 of 246 million tons of coal. Peabody markets coal to electricity generating and industrial customers in more than 25 nations. As of December 31, 2010, the company had approximately 9 billion tons of proven and probable coal reserves and liquidity that matches the company's entire enterprise value of 12 years ago.
Peabody Energy maintains ownership of majority interests in 28 surface and underground mining operations located throughout the United States and Australia. In the United States, company-owned mines are located in Wyoming, Colorado, Arizona, New Mexico, Illinois, and Indiana. Peabody's largest operation is the North Antelope-Rochelle Mine located in Campbell County, Wyoming, mining more than 100 million tons of coal in 2010. Peabody spun off coal mining operations in West Virginia and Kentucky into Patriot Coal Corporation (NYSE: PCX) in October 2007. In October 2011, Peabody acquired a majority ownership stake in Queensland-based Macarthur Coal Ltd, which specializes in the production of metallurgical coal, primarily seaborne pulverized injection coal.
Peabody Energy was listed as number 338 on the Fortune 500 list of companies in 2011. The company was named to Fortune Magazine's list of America's Most Admired Companies in 2008, ranking first in their sector in: Innovation, People Management, Social Responsibility, Financial Soundness, et al. The company is headquartered in downtown St. Louis, Missouri.
Read more about Peabody Energy Corporation: Areas of Business, Black Mesa Controversy, Environmental Record, American Legislative Exchange Council, See Also
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