St. Louis, Missouri-based Peabody Energy, the world's largest private-sector coal company, announced Wednesday that it has acquired a 5.1 percent equity interest in Chinese coal importer Winsway Coking Coal Holdings Ltd.
Peabody and Winsway already have a joint venture together that holds coal and uranium licenses in Mongolia and the two recently entered into a non-binding memorandum of understanding to establish a joint venture to market coal in China and the Asia-Pacific region.