The company plans to add the Belle Ayr North reserve area to the assigned reserves related to the Caballo Mine, which had 2010 sales of 23.5 million tons and reserves of 822 million tons.
The new reserve block would extend the mine life, increase the average Btu of the mine, allow for increased mine production as demand warrants and enable greater mine optimization, the company said.
Peabody controls 2.9 billion tons of Powder River Basin coal reserves and the basin continues to grow to serve new power plants and increased consumption from existing plants.
