(RTTNews) - Peabody Energy Corporation (BTU), a coal producer, Tuesday said it has signed a contract to supply seven to eight million tons of coal per year to Associated Electric Cooperative Inc. for at least the next seven years.
As per the deal, Peabody will provide coal to Associated's New Madrid Power Plant and Thomas Hill Energy Center in Missouri from its North Antelope Rochelle Mine (NARM), located in Wyoming's Powder River Basin.
Peabody has been supplying coal from NARM Mine to Associated for more than 30 years.
"American demand for electricity is growing for the first time in many years given increased power needs from data centers and artificial intelligence. We are pleased to extend our long-term relationship with Associated and look forward to supplying their fuel needs well into the future," said Peabody President and Chief Executive Officer Jim Grech.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
