Peabody Energy Corp. (NYSE:BT& announced Friday that it has a deal with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asian export.
The coal from PT CEM will come over a period two years from a mine in East Kalimantan.
Export will be through Peabody COALTRADE's international trading hub in Singapore.
Peabody said the relationship with PT CEM could be expanded over time.
Peabody said this is the third agreement it reached recently to source Indonesian coal, including a deal inked in December with PT Supra Bara Energi in Indonesia, and together the deals total 5.5 million tons.
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