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Coal - 26 January 2011

Peabody predicts long-term growth in coal demand

Peabody Energy believes the world is in the early stages of a long-term supercycle for coal driven by increasing energy use in China, India and other emerging markets, global growth in steel consumption and a lack of alternative supplies with the cost and scale required.

 

Riversdale board unanimously recommends Rio Tinto offer

The board of Riversdale Mining Ltd, including the representative from Tata Steel Ltd (TSL), has unanimously recommended that Riversdale shareholders accept the offer by Rio Tinto to purchase all Riversdale shares for $16.00 cash/share.