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U.S.-based Peabody Energy Corp. said Thursday it will pursue a giant coal -mine project in China's western Xinjiang region in partnership with the local provincial government, one of the most demonstrative signs of rising foreign interest in the resource-rich but restive region. Plans call for a surface mine that will produce some 50 million metric tons of coal annually to feed China's energy needs, St. Louis-based Peabody said Thursday in a joint statement with its partner, the government of the Xinjiang Uyghur Autonomous Region. On hand for a ceremony to market their "framework agreement" were Peabody Chairman and Chief Executive Officer Gregory H. Boyce and Xinjiang Communist Party Secretary Zhang Chunxian. |
