December 03, 2008

Peabody starts coal supplies to China

Reuters reported that Peabody, the world's largest private coal company hopes to become a major supplier of the fuel to China after starting to trade coal out of Beijing.

Mr Tayeb Tahir president of Peabody China told an industry conference in Beijing that "We hope to become a major supplier to cover China's energy needs from Australia, Indonesia, and in the long term, Mongolia.”

Asked if it has brought some coal into China, the world's largest producer and consumer of the fuel, Mr Tahir said that "We are in the process of doing so."

Peabody set up its Beijing office in 2007