The company will initially export up to 24 million metric tons of coal per year through the terminal, which is being permitted to handle a variety of dry bulk commodities.
Peabody said that the terminal will serve as a West Coast hub for exporting its clean Powder River Basin coal to fast-growing Asian markets.
Extensive engineering and permitting work is under way to develop the facility, and port operations could begin within several years, the company said.
Peabody has rights to throughput over the life of the operation and can expand its capacity in future.
