Peabody Is setting up a European coal desk

摘要

Peabody Energy is setting up a coal trading desk in Europe, according to Greg Boyce, Peabody's CEO, Peabody hired new staff members for the desk during the first quarter. Initially, trading activity will begin at Peabody's St. Louis office for about a year before the activity is transferred to Europe. An interesting question is where Peabody will get the coal for its trading venture. "It would be a combination of things," Boyce said. "We would look at sourcing from South Africa, Australia, Indonesia, the U.S., South America and Russia. We are always looking for new opportunities to expand our portfolio production." Boyce added that at the current time, no specific origins for coal have been determined.