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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowSt. Louis-based Peabody Energy Corp. said yesterday it plans to develop
an enormous coal mine in Sullivan County in western Indiana, creating
350 jobs.
The largest surface mine in the eastern United States will be developed
with the support of two long-term supply contracts worth nearly $6
billion in new revenue, the company said. The contracts will run up to
17 years and call for supplying more than 90 million tons of coal to
two undisclosed power-generation companies.
Peabody estimates it will spend $350 million to $400 million over
several years to develop the mine. The mine is expected to begin
operating in the second half of the year, with coal output for 2010
expected at 2 million to 3 million tons.
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