Peabody looks to expand southern Illinois coal mine -

Peabody looks to expand southern Illinois coal mine


ST. LOUIS (AP) -- Peabody Energy says it expects to spend $175 million to expand one of its southern Illinois coal mines by 40 percent, if regulators sign off on the deal.

The St. Louis-based company, one of the world's biggest coal producers, looks to tap the additional 280 million tons of coal reserves it says the Gateway Mine near Coulterville in Randolph County has.

Peabody says the move will extend the mine's life by at least 16 years, boosting the site's annual capacity to 4.5 million tons within years.

Gateway has more than 200 workers and last year accounted for 3.2 million tons of coal shipped to Midwest customers.

The expansion is subject to permitting and regulatory approval.

Peabody fuels 10 percent of U.S. power and 2 percent of electricity worldwide.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

Powered by Frankly