Peabody and Rentech Enter Into Development and Coal Supply Agreements and Lundin Mining Announces Extension of Bid for Rio Narcea Gold Mines, Ltd. May 30, 2007 - 9:30 AM EDT
Industrial Metals & Minerals industry alert provided by U.S. Equity News. Peabody Energy (NYSE: BTU) recently announced it has entered into agreements with Rentech, Inc. (Amex: RTK) to fund up to $10 million of engineering and development costs for Rentech's planned coal-to-liquids project in Illinois and to supply the facility with nearly 1 million tons of coal annually. As part of the agreement, Peabody has an option to acquire a 20 percent equity interest in the project through increased funding.