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Peabody ships first coal to new NCIG terminal, Newcastle, Australia

World Coal,

Peabody Energy has shipped the first coal to the newly constructed 30 million tpa Newcastle Coal Infrastructure Group (NCIG) export terminal export terminal in Newcastle, Australia. The coal was delivered from Peabody's Wilpinjong mine in New South Wales. The terminal is set to begin exports in April.

"NCIG is perfectly timed to increase throughput as Australia continues to set export records," said Peabody executive vice president and chief operating officer, Eric Ford. "These volumes are vital for consumers in Pacific Rim nations that have growing needs for quality coal. Asian nations are forecast to account for more than 90%  of global coal demand growth in the next two decades. We're pleased Peabody could be part of a history-making event for Australia's coal industry."

Peabody is investing in a major capital programme to expand its Australia met and thermal platform and is set to nearly double export volumes by 2014. Peabody has the second largest interest in the NCIG terminal and long-term expansion plans at NCIG ultimately will increase terminal throughput to 66 million tpa.

Peabody owns nine met and thermal mines in Queensland and New South Wales that last year shipped 22.3 million t of coal.

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