Tuesday 19 April 2016 by Company updates

Peabody Energy files for Chapter 11 protection – what it means for its Australian coal mines

Peabody Energy has filed for Chapter 11 bankruptcy protection in the US. In its statement, the company notes that its Australian operations are continuing to operate as usual. As a result, the take or pay contracts with Peabody mines continue to be serviced. Ultimately, a restructure of Peabody’s debt or sale of its assets to a more creditworthy owner would be positive for each of the Australian coal terminals


On April 13, Peabody Energy filed for Chapter 11 bankruptcy protection in the US (press release available hereExternal link - opens in a new window). According to the company’s statement, all of the company's mines and offices are continuing to operate in the ordinary course of business. No Australian entities are included in the Chapter 11 filings, and Australian operations also continue to operate as usual.

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