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US coal major Peabody files for bankruptcy
2016-04-13 10:29:00| Climate Ark Climate Change & Global Warming Newsfeed
Climate Home: Peabody Energy, the world`s largest private coal miner, has filed for bankruptcy protection in the US. Worth almost US$20 billion in 2011, the firm`s debts ballooned over the past five years as it expanded while coal prices crashed. It cited a weak Chinese economy, competition from shale gas and "ongoing regulatory challenges" -- a nod to climate protections -- as factors. This was a difficult decision, but it is the right path forward for Peabody. We begin today to build a highly successful...
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