ST. LOUIS, July 5, 2011 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today confirmed that the Government of Mongolia has selected Peabody to be part of a global energy consortium to develop the Tavan Tolgoi coking coal reserve in the South Gobi region. Peabody continues to work with the government and other parties to reach agreement on definitive terms and conditions. Agreements would then be submitted for consideration and approval by government agencies and Parliament.
Peabody Energy (NYSE: BTU) is the world's largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on numerous assumptions that the company believes are reasonable, but they are open to a wide range of uncertainties and business risks that may cause actual results to differ materially from expectations. These factors are difficult to accurately predict and may be beyond the company's control. The company does not undertake to update its forward-looking statements. Factors that could affect results include those described in this press release as well as other risks detailed in the company's reports filed with the Securities and Exchange Commission.
SOURCE Peabody Energy