Peabody eyes mining opportunity in northwest China - STLtoday.com
Herein more documentation of US coal mining giant Peabody Energy's involvement in China's ambitious coal-to-liquid fuel and chemicals industrialization plans.
Some excerpts:
"Peabody Energy Corp. said it is considering an investment in a large new surface mine in the coal-rich Xinjiang Uygur autonomous region of northwestern China."
"Last year, the company announced a $2.5 billion project to develop a mine in coal-rich Inner Mongolia and a plant to convert coal into methanol and chemicals. It also took a 50-percent stake in a venture that owns coal reserves in the South Gobi region."
We submit this because herein we have a St. Louis, MO-based, United States coal mining corporation putting at least 16 tons worth of money, and effort, into a project undertaken by our old adversaries to make themselves independent of foreign oil; and doing so through the use of a resource - coal - which is, or is on the way to being, named the "Official State Rock of West Virginia" (seriously - it is).
Note that, in our dispatches, we have detailed the participation of other, major US companies in the Coal-to-Liquid effort, "Over There".
Objections have been made in the US regarding the costs of coal conversion. The Chinese, apparently, don't see it that way, and, even though they are not nearly as affluent as we are, they can justify the expense of hiring our own mining and coal technology experts to "relocate" major operations to China, and to there lay the foundations for a fundamentally transformational coal-based energy revolution.