Glencore, Peabody pursue Australian coal JV

摘要

Switzerland-based trading and mining firm Glencore and UScoal producer Peabody Energy are pushing forward with plansto develop a 10mn metric tonne/yr run-of-mine thermal coalproject in Australia's Hunter Valley. The firms aim to use theirexisting operations to bring down costs to internationally competitivelevels.The two companies have applied for environmentalclearance for the new open-cut coal mine, which is locatedbetween Glencore's United coal mine and Peabody's Wambomine.