Source: Zacks.com             Date: 06 July, 2010

Coal producer Peabody Energy Corp. has joined forces with Winsway Coking Coal Holdings Ltd. to form a Mongolian joint venture. The collaboration, Peabody-Winsway Resources, was formed after Winsway acquired a 50% interest in the joint venture from Polo Resources. Winsway is the largest offtaker of Mongolian coking coal and supplier of imported high-quality coking coal in China. Peabody-Winsway Resources has coal and uranium licenses in Mongolia, and is actively exploring the South Gobi region.