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Peabody forced into bankruptcy

THE world’s largest privately owned coal company, Peabody Energy, has filed for Chapter 11 bankruptcy because of the “unprecedented industry downturn” but it has confirmed there will be no mine closures or job losses in either Australia or the US as a result of the drastic measure.

Lau Caruana
Peabody forced into bankruptcy

The company turned to bankruptcy after the sale of three of its south-western US coal mines to Bowie Resource Partners in a $US650 million deal fell through because of Bowie’s inability to raise finance...

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