Peabody names Aussie boss

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The world’s biggest non-government coalminer Peabody Energy has announced a major restructure, including appointing a new head of its Australian operations.

The US-based company announced that its chief operating officer Eric Ford has been named president of its Australian operations.

Late last year, Peabody Energy completed a $4.9 billion takeover offer for Queensland coal miner Macarthur Coal.

Macarthur is one of Australia’s largest coalminers, producing pulverised coal injection (PCI) coal – a lower-cost variety of coal used in steel making.

Peabody has created geographic business units in the Americas, Australia and Asia, which it says reflect the growing size of its global footprint.

It now operates or has majority interests in more than 30 mines, about one-third of which are in Australia.

It has appointed chief commercial officer Richard A Navarre its Americas president and Chris Hagedorn as president of Asia and coal trading.

“As the largest global pure-play coal investment, Peabody has a growing platform in Australia, multiple initiatives in Asia, an expanding coal trading business and the premier portfolio in the United States,” Peabody Energy chairman and chief executive Greg Boyce said.

Peabody sold a record 251 million tonnes of coal last year, with its Australian operations contributing half of its earnings before interest, tax, depreciation and amortisation of $US2.13 billion ($A2.02 billion).

The company says it fuels 10 per cent of US power and two per cent of worldwide electricity.