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Peabody lowers full-year forecast
July 23 - 29, 2007
US COAL major Peabody Energy has had to lower its 2007 production forecast due to constraints on growing capacity in the US and Australia. The company believes the brakes on output, coupled with an estimated 115GW of new coal-fuelled power generating capacity requiring 400 million tonnes of coal a year, will produce a sharp rise in 2008-09 prices.