Peabody Energy Corporation (NYSE: Ã, BTU), headquartered in St. Louis. Louis, Missouri, is the largest private sector coal company in the world. Its core business consists of coal mining, sales and distribution, purchased for use in power generation and steelmaking. Peabody also markets, trades, and trades coal through offices in China, Australia, the United Kingdom, and the United States.
In 2016, Peabody recorded sales of 186.8 million tons of coal. Peabody markets coal to power plants and industrial customers in more than 25 countries across five continents. As of December 31, 2016, the company has approximately 5.6 billion tons of proven and measurable coal reserves.
Peabody retains ownership of a majority interest in 23 surface and underground mining operations located throughout the United States and Australia. In the United States, the company's mines are located in Wyoming, Colorado, Arizona, New Mexico, Illinois, and Indiana. Peabody's largest operation is the North Antelope Rochelle Mine located in Campbell County, Wyoming, mining more than 92 million tonnes of coal by 2016. Peabody separated coal mining operations in West Virginia and Kentucky into Patriot Coal Corporation in October 2007. In October 2011, Peabody acquired a majority ownership interest in Macarthur Coal Ltd based in Queensland, specializing in the production of metallurgical coal, especially coal seam injection powder.
Having been named Fortune Magazine's list of Companies Most Admired in America in 2008, Peabody saw a $ 787 million loss, was removed from S & amp; P 500, and the ratings are downgraded to "underperforming" and "negative" by Goldman Sachs, Standard & amp; Poor, Bank of America, and others in 2014. Nevertheless, Peabody acquired this year's Energy Company and CEO of the Year at the 2014 Global Energy Platt Award.
The company filed for Chapter 11 bankruptcy protection on 13 April 2016. The company emerged from bankruptcy on April 3, 2017 and started trading on the NYSE with ticker symbol BTU. It also changed the company's logo from Peabody Energy to just Peabody.
Video Peabody Energy
Histori
Awal tahun (1883-1959)
Peabody Energy Company was founded as Peabody, Daniels & amp; The company in 1883 by Francis Peabody, son of a prominent Chicago lawyer, and a partner. The company buys coal from established mines and sells them to homes and businesses in the Chicago area. In the late 1880s, Francis Peabody purchased parts of its business partners and the company was founded in the state of Illinois under the name Peabody Coal Company in 1890. In 1895, the company began its first mining operation in Williamson County, Illinois and then expanded its operations in Illinois. In 1913, the company won its first long-term contract to supply the Chicago Edison Company, a precursor to the Commonwealth Edison utility. The company's growth continued after World War I and the company became public for the first time in 1929 with a listing on the Midwest Stock Exchange and in 1949, listed on the New York Stock Exchange.
Despite being ranked eighth among the country's leading coal producers in the mid-1950s, Peabody began to lose its market share to a company that operates a cost-effective surface mining operation. To resolve the situation, the company held merger talks with Sinclair Coal Company. The merger between the two companies took place in 1955, which resulted in the removal of Peabody's headquarters into St. Petersburg. Louis, Missouri. The combined company retains the Peabody name. Under the leadership of chairman Russell Kelce, the company expanded production and sales.
1960-2000
In 1962, Peabody expanded into the Pacific with the opening of a mining operation in Queensland, Australia. During this period Peabody also established an equity partnership with Japanese trading company Mitsui & amp; Co., Ltd. and Australian construction company Thiess Holdings. In 1968, the company was purchased by the Kennecott Copper Company. However, the US Federal Trade Commission opposes the purchase as an antitrust violation. In 1976, the FTC ordered Kennecott to escape from Peabody. The newly created Peabody Holding Company bought the Peabody Coal business from Kennecott for $ 1.1 billion, and the consortium controlled Peabody-Holding.
In the 1980s, Peabody expanded its operations in the Eastern United States, acquired Armco Inc.'s West Virginia coal mine in 1984. The company sought to expand its metallurgical coal portfolio through the purchase of seven East Virginia mines at East Gas and Fuel Associates in 1987. Peabody also extending westward, opening the North Antelope and Rochelle mines in the low sulfur Wyodak splint in the heart of the Powder River Wyoming River in 1983 and 1984, respectively.
Part of the Clean Air Act amendment in 1990 prompted the closure of several Peabody mines. However, other mines under its ownership may remain in operation due to the application of new equipment and procedures that reduce sulfur dioxide emissions. The rigorous requirements outlined in Phase II of the law also encourage Peabody to invest in emission reduction technologies. In 1990, US-based conglomerate Hanson plc, one of the owners of Peabody Holding at the time, bought the rest of its owners.
In 1993, Peabody Energy expanded its holdings in the Pacific by acquiring three mines in Australia and then developing a fourth operation in New South Wales. Peabody also expanded its operations domestically with acquisitions in New Mexico in 1993 and Wyoming in 1994 and assumed Black Beauty's stake, a Midwest producer, in response to growing demand for metallurgical coal.
2001-present
In 1996, Hanson lowered Peabody and the Eastern Group by the name of The Energy Group. When TXU acquired The Energy Group, Peabody was sold to Lehman Brothers Merchant Banking Partners. The Company made an initial public offering (IPO) in May 2001, and has since operated as a public company. In 2002, Peabody launched Peabody Energy Australia Coal Co. after the acquisition of the Wilkie Creek Mine in Queensland's Surat Basin. The North Goonyella coal mine was acquired by Peabody in 2004. In October 2006, Peabody completed the acquisition of Excel Coal Limited, an independent coal company in Australia. Peabody paid $ 1.52 billion for Excel and also assumed $ 227 million in Excel debt. At that time, Excel has three operating mines and three development stage mines in Australia. In addition, Excel has about 500 million tons of proven and measurable coal reserves. In 2011, the Australian Peabody mining operation is located in Queensland and New South Wales. Most of the Australian company's production is metallurgical coal.
The company also proposed a number of coal-to-liquid and coal-to-gas projects to reduce emissions for a decade. On August 30, 2007, Ernie Fletcher, the governor of the US state of Kentucky signed a state law as a law that would give Peabody about a $ 300 million incentive to build a coal gasification plant in the state. The resulting incentives are set in the form of a break on sales tax, incentive tax and coal-cut tax. In 2007, Peabody and a consortium of municipal electric cooperatives started building the 1600-megawatt Prairie State Energy clean-up project in Lively Grove, Illinois. The company now maintains a five percent equity stake in the project, which is expected to begin generating power for customers in 2011. At the World Energy Congress 2010, Peabody CEO Gregory Boyce proposed a plan that advocated the widespread use of coal worldwide, geographic area with limited or no electricity access at all. On April 13, 2016 it was reported that revenue dropped 17 percent as coal prices fell and lost 2 billion dollars in the previous year. It then filed Chapter 11 bankruptcy on April 13, 2016.
In November 2016, the day after Donald Trump won the US presidential election, Peabody Energy shares jumped more than 50 percent. On April 3, 2017 it emerged from bankruptcy and began trading on the NYSE with ticker symbol BTU. In October 2017, a judge ruled that the bankruptcy of Peabody Energy protected it from "global warming lawsuits brought by California coastal communities [in July 2017] against fossil fuel companies."
Maps Peabody Energy
Business line
The headquarters of Peabody Energy is at St. Louis, and in 2014 also has offices in London, Beijing, Singapore, Brisbane, Sydney, Essen, Balikpapan, and Jakarta. In the West, Peabody operates the Powder River Basin operation in Wyoming and other mining operations in Arizona and New Mexico. The operations in the US Midwest consist of mines in Indiana and Illinois. Peabody also operates an underground mine in Colorado. All of these assets are occupied by mining, preparation, and sale of coal to utility companies or steelmakers.
The Australian Peabody operation consists of metallurgical and thermal coal mining operations in Queensland and New South Wales. Buyers of coal products include Australian utility companies or steel producers.
The functions of Trade and Brokers primarily relate to the brokering of coal sales, coal trading, and delivery or contracts related to delivery. A smaller share of Peabody Energy deals with mining, export and transport joint ventures, energy-related commercial activity, and management of Peabody operations and ownership. With increasing demand for coal in Asian markets, especially in China, Indonesia and India, Peabody has expanded its presence in Asia through offices in China, Indonesia and Singapore.
Black Mesa Controversy
In 1964 Peabody Energy Peabody Western Coal subsidiary signed a series of lease agreements with the Navajo tribe and two years later with the Hopi tribe for mineral rights as well as the use of water resources in Black Mesa, a 2.1 million acre highland in Northeast Arizona. The company's contracts with the Navajo Nations and the Hopi Tribe were approved despite opposition from those who denied the authority of the official tribal council. They are also negotiated by natural resource lawyer John Sterling Boyden, who represents the Hopi tribe but his company also represents Peabody on other legal issues, contributing to alleged conflicts of interest.
When railway negotiations to transport coal from damaged projects, Peabody designed a coal mud channel similar to a natural gas pipeline to transport 273 miles of coal to the Mohave Generating Station in Laughlin, Nevada. The company pumps drinking water from the Navajo Aquifer underground (N-aquifer) to supply pipe sludge, a solution that generates controversy. The Navajo Aquifer is the primary source of drinking water for the Navajo and Hopi tribes, which uses water for agricultural maintenance and rearing of livestock and drinking and other domestic uses. Tribal members as well as outside environmental groups have alleged that water pumping by Peabody Energy has caused contamination of water sources and a sharp decline in potable water. Peabody believes that the operation consumes only one percent of the aquifer water.
Peabody developed and operated two strip mines at Black Mesa reservation: Black Mesa Mine and Kayenta Mine. The Black Mesa mine disrupted operations in 2006 after its only mining customer, Mohave Station, was retired. This site is completely disabled in January 2010.
Misleading Investors about climate change
In 2015, an investigation by New York Attorney General concluded that Peabody had misled investors about the financial risks to companies caused by climate change. The settlement of the case requires the company to revise its financial disclosure with the Securities and Exchange Commission. This settlement does not require financial sanction or recognition of legal mistakes.
Environmental recordings
The practice of taking coal from the earth for energy production purposes has been the subject of controversy for long periods of time. The Sierra Club has expressed concerns about Peabody's early opposition to the Clean Air Act and other environmental regulations, as well as its support for the expansion of coal-fired electricity usage as a means to meet the growing demand for energy use worldwide. The Natural Resources Defense Council has been critical of Peabody's advocacy to expand coal-fired power in the US, in particular because of the environmental impact of surface mining operations. The environmental impact of the Peabody surface mining operation in Muhlenberg County, Kentucky has also been criticized in the 1971 John Prine song "Paradise." In the ranking of Newsweek 2011 of the most environmentally friendly company in the US, Peabody Energy ranks # 9 out of the 500 largest US companies based on their environmental impact.
Peabody Energy expressed its mission as "to become the world's leading producer and supplier of sustainable energy solutions, which drive economic prosperity and produce better quality of life," and returns mined land to "conditions equal to or better than before mining" Peabody launches his first land reclamation program, Operation Green Earth, in 1954. Since then, Peabody's activities in pursuit of its mission, specifically on environmental preservation practices, have been recognized by regulators and industry groups, but have raised concerns among its critics, especially some organizations advocating the environment, the Company has taken steps to implement environmental restoration and has been recognized by the US Department of the Interior for their reclamation efforts.
In response to federal laws, such as the Clean Air Act of 1970 and the 1990 Clean Air Act amendment, and environmental criticism of its mining operations, Peabody has directed investments in technologies and equipment that serve to mitigate adverse environmental impacts from coal mining operations they. In 2007, the company became the only non-Chinese equity partner in GreenGen's nearly-zero-emission clean-coal 650-megawatt project in Tianjin, China. Peabody is also investing in the development of carbon capture technology and coal-to-gas and coal-to-hydrogen projects.
In 2014, Peabody Energy's CEO said at a coal industry conference that coal-fired power stations will bring public health benefits in developing countries, in particular improving cold chain cooling of future potential Ebola vaccines. Peabody claims were criticized by three public health academics as "humiliating", and "an opportunistic and somewhat desperate attempt to link the company's personal interests to a major public health crisis".
In Newsweek 2012 Green Ratings - comparison of the largest public company's environmental, management, and transparency trails in America - Peabody Energy ranks 493 out of 500 in all industries and 29 out of 31 in the energy industry. The company received the worst Environmental Impact score.
Peabody Energy often used "self-bonding" to ensure it could pay its mining reclamation obligations under the Surface Mining Control and Reclamation Act of 1977. On March 28, 2016, the Wyoming Department of Environmental Quality convinced the federal Open Mining Office that Peabody's own fixed energy bond adequate. Before Peabody Energy declared bankruptcy, the company saved $ 1.47 billion in self-bonding liabilities, including $ 900.5 million in Wyoming alone.
Marketing, public relations, and lobbying
American Legislative Exchange Council
Kelly Mader represents Peabody Energy at the Council of the Private Company of the American Legislative Exchange Council (ALEC), and Peabody has funded ALEC.
Advanced Energy for Life
In 2014, Peabody Energy Corp. launched a pro-coal advertising and public relations campaign called Advanced Energy for Life, with the aim of "educating and mobilizing world leaders, multinational organizations, institutions and stakeholders and the general public to end the global poverty crisis." The campaign was created by Burson-Marsteller, the world's largest public relations firm, and its subsidiary, Proof Integrated Communications.
Disclaimer of climate change
Peabody has been an important actor in the refusal of organized climate change. Until 2015, Peabody has claimed that global warming is not a threat and emitting useful carbon dioxide rather than harmful. The company also funded at least two dozen climate change denial organizations and front groups such as the George C. Marshall Institute, the Energy Research Institute, the Committee for Constructive Tomorrow, and the Center for Carbon Dioxide Studies and Global Change as well. as scientists famous for their contrarian opinions, among them Willie Soon, Richard Lindzen and Roy Spencer. Nick Surgey, director of research for the Center for Media and Democracy, commented on the scale of Peabody's funding activity: "We expect to see some money rejection, but it seems Peabody is a very important state treasury of climate resistance. Peabody plans to continue to oppose the Clean Power Plan during its bankruptcy.
References
External links
- Official website
Source of the article : Wikipedia
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