Peabody Energy is pursuing
opportunities in Mongolia, Chief Executive Officer Gregory Boyce has said.
Boyce said his company was looking at expanding into Mongolia, which is rich in
untapped mineral and coal resources. “China, Mongolia and India are our
focus,” Boyce said.

Peabody has a joint venture
in Mongolia. It  struck a deal with  China”s Winsway Coking Coal Holdings Ltd in
May to buy Polo Resources Ltd”s  stake in
the joint venture. Boyce said Mongolia”s proximity to China, with its huge
demand for steel-making metallurgical, or coking, coal was the key to the
investment.

“Met coal is at the
surface, and mining risks are low,” he said. “We see Mongolia as a
place we want to be.”