Peabody working with Coal India Peabody Energy and Coal India jointly released a statement on April 12 confirming that they are “in a broad range of preliminary discussions to explore long-term coal supplies and other possible co-operative ventures. These are at very early stages and there have been no final agreements or decisions made regarding timing or structure. Peabody recognises growing long-term coal demand in India, which may be the world’s fastest-growing coal importer.”

An Australian newspaper recently reported the two companies were negotiating a $1 billion deal that would give Coal India a stake in four Australian coal mines.  

The statement continued that “these discussions are also unrelated to other potential transactions that Peabody has recently been engaged in.”