Peabody Awarded Grant from U.S. Department of Energy to Advance Domestic Rare Earth and Critical Mineral Supply Chain

Peabody (NYSE: BTU) today announced that the U.S. Department of Energy has selected the company for funding to advance the production of rare earth elements and critical minerals.  The selection supports Peabody's ongoing efforts to evaluate and advance the recovery of rare earth elements and critical minerals from its extensive resource base in Wyoming's Powder River Basin.

"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. "I thank the Trump Administration, including the Department of Energy and Secretary Wright for supporting this project as we continue advancing the technical and economic viability of a domestic rare earth and critical mineral supply chain."

The company's efforts are focused on supporting the development of a secure domestic supply chain for materials that are increasingly important to U.S. energy, technology and national security objectives.

Peabody moves more earth annually across its Powder River Basin operations than any other coal miner, providing a unique combination of scale, infrastructure and ready access to a vast resource base with promising concentrations of rare earth elements and critical minerals.

Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future.

CONTACT:   
Kala Finklang
ir@peabodyenergy.com  

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SOURCE Peabody