Peabody to get 2M tons of Indonesian coal

Peabody Energy will source 2 million tons of coal for export from Indonesia's PT Cahaya Energi Mandiri.

The coal will be secured over two years from a mine in East Kalimantan, Peabody said.

Including the latest agreement, Peabody has secured three term deals in recent months that account for 5.5 million tons of Indonesian coal.

Peabody President Richard A. Navarre expressed his satisfaction in Indoensia's coal.

"We will continue to increase our coal sourcing in Indonesia, the world's largest supplier of seaborne thermal coal," said Navarre.