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Peabody plans PRB meeting

MISSOURI-headquartered Peabody Energy is going west for its annual shareholders meeting, scheduli...

Donna Schmidt
Peabody plans PRB meeting

The producer disclosed in its annual report that it would convene April 29 at Gillette College – about 1100 miles away from its headquarters, which has been at the center of several protests related to its actions tied to the bankruptcy of spin-off company Patriot Coal.

According to an Associated Press report this week, spokeswoman Beth Sutton confirmed Peabody often held its board meetings in regions where it had operations.

“This location allows Peabody to highlight the importance of America's largest coal region, which is one of the great energy centers of the world,” she said.

However, the move has gotten criticism, particularly from Missourians Organizing for Reform and Empowerment, which is arguing the producer is trying to avoid the St Louis scene.

MORE organizer Arielle Klagsbrun told the Wyoming Business Report that Peabody was “hiding out” by taking its meeting to Gillette, as it had never before in its publicly traded history held such an event there.

The group has had many of its members arrested in previous protests held at Peabody’s headquarters and before the US Bankruptcy Court in St Louis, where Patriot’s Chapter 11 proceedings are being heard.

Moreover, the WBR said some members even bought Peabody shares to give them legitimate access to shareholder meetings.

“We believe that Peabody is moving the meeting to Gillette to run away and hide out from protestors," Klagsbrun said.

Gillette is a strategic choice for Peabody because its North Antelope Rochelle complex is nearby.

The mine, known as the world’s most productive, sold 107.7 million tons in 2012.

It has two other large local operations there as well.

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