Peabody Energy Announces 40% Expansion of Gateway Mine

The Board of Directors of Peabody Energy BTU has approved the expansion of the Gateway Mine in Southern Illinois, which will extend the life of the operation by at least 16 years. Gateway has an additional 280 million tons of reserves available for expansion in favorable market conditions. The project will advance underground operations north of the existing site and will increase annual capacity by 40 percent to 4.5 million tons within several years. Capital investments for the expansion are expected to total approximately $175 million.