Home>News Center>Bizchina
           
     

    US coal firm now in China
    By Wang Ying (China Daily)
    Updated: 2005-09-21 08:49

    Seeing China's huge demand for energy, Peabody Energy, the world's largest private-sector coal company based in the United States, is looking at opportunities for both coal trading and investment in the country's coalmines.

    The coal producer, whose products fuel more than 10 per cent of all US electricity consumed, yesterday announced in Beijing that it had officially opened its office in the capital city, to cash in on the country's growing energy needs.

    "China has the fastest growing economy in the world and Peabody's China presence is a natural extension of our mission to be a world-wide supplier of low-cost energy," said Gregory H. Boyce, president of Peabody in a company statement.

    China last year produced 1.96 billion tons of coal, with exports and imports reaching 85.92 million tons and 18.6 million tons respectively, statistics from the China Coal Industry Association said.

    Coal currently makes up 70 per cent of China's total energy consumption.

    Peabody Energy, currently having no tangible projects in China, aims to deepen ties with the Chinese Government and start partnership with the Chinese local coal companies such as China Coal and Shenhua Group.

    "We will look at partnerships with the Chinese local coal firms instead of acquisitions of existing coal mines," Richard A. Navarre, executive vice-president and chief financial officer of Peabody told a news briefing yesterday in Beijing.

    From the partnership, Navarre said, both sides will benefit from the particular strengths of each company.

    The vice-president said they had not started talks with their Chinese counterparts over some firm projects, but are moving on to that end.

    Navarre foresees robust demand for coal from the country's deepening urbanization and industrialization within the following years.

    The country's long-term plan to consolidate the fragmented coal sector by grouping the small coal mines into fewer large coal-producing bases will render Peabody chances to bring in its practices, management and technologies, the vice-president yesterday said.

    The company also plans to increase its coal trading volume with China, which now only takes a "very small proportion" of their total coal trades in Asia, Richard M. Whiting, executive vice-president for sales marketing and trading of Peabody, yesterday told China Daily after the briefing.

    The US-based coal company collected revenue of US$3.6 billion by selling 227 million tons of coal products last year.


    (China Daily 09/21/2005 page10)




     
      Story Tools  
       
    Manufacturers, Exporters, Wholesalers - Global trade starts here.

     

    Advertisement
             
    精品久久久无码中文字幕天天| 日韩人妻无码精品专区| 亚洲国产综合精品中文字幕| 精品久久久久久久无码| 天堂资源中文最新版在线一区 | 亚洲国产AV无码专区亚洲AV | 精品人妻中文av一区二区三区 | 日韩乱码人妻无码中文视频| 亚洲人成影院在线无码按摩店| 日韩中文字幕视频| 亚洲男人第一无码aⅴ网站| 亚洲国产AV无码专区亚洲AV| 无码福利一区二区三区| 亚洲欧美日韩中文久久| 无码专区6080yy国产电影| 国产精品va无码一区二区 | 亚洲AV无码专区电影在线观看 | 国产aⅴ无码专区亚洲av麻豆| 久久精品中文字幕久久| 中文字幕无码久久人妻| 精品无码人妻一区二区免费蜜桃| 亚洲乱码中文字幕手机在线| 中文字幕Av一区乱码| 亚洲中文字幕无码爆乳av中文| 国产激情无码视频在线播放性色| 亚洲AV无码不卡无码| 成人无码a级毛片免费| 日日日日做夜夜夜夜无码| 久草中文在线观看| 久久亚洲2019中文字幕| 色综合天天综合中文网| 日韩在线中文字幕| 中文在线最新版天堂8| 日本一区二区三区精品中文字幕| 香蕉伊蕉伊中文视频在线| 日韩亚洲变态另类中文| 手机在线观看?v无码片| 无码任你躁久久久久久 | 久久精品中文字幕无码绿巨人 | 无套内射在线无码播放| 刺激无码在线观看精品视频|