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Peabody Energy to Continue Expanding World’s Largest Coal Mine
Nov. 10, 2014 09:27AM PST
Industrial MetalsAccording to Scott Durgin, senior vice-president for Peabody Energy’s (NYSE:BTU) operations in the Powder River Basin in Wyoming, the company’s mining operations in the area are likely the largest in the world. According to an article from the Guardian, the company has no plans to stop expanding in the area.
According to Scott Durgin, senior vice-president for Peabody Energy’s (NYSE:BTU) operations in the Powder River Basin in Wyoming, the company’s mining operations in the area are likely the largest in the world. According to an article from the Guardian, the company has no plans to stop expanding in the area, despite concerns regarding climate change from those in the area.
As quoted in the publication:
For Peabody though, the aim is expansion. The company produced 134m tonnes of coal from its combined Powder River Basin mines last year, and was on track to increase production this year, Durgin said.
“I’ve been asked when is the end of the mine,” said Durgin. “I don’t know. Economics will tell us that.”
So long as Obama pursues policies that keep coal cheap, that end is unlikely to come soon.