November 13, 2020 Read More →

Peabody could be facing second bankruptcy in less than four years

Mining.com:

Experts from the US-based Institute for Energy Economics and Financial Analysis published a commentary stating that Peabody Energy (NYSE: BTU), —the world’s largest private coal miner— seems to be flirting with bankruptcy just three-and-a-half years after emerging from its previous default.

According to Clark Williams-Derry, energy finance analyst at the IEEFA, and energy data analyst Seth Feaster, Peabody painted a bleak picture of the global coal market for its investors. The company said that demand for metallurgical coal used in steelmaking has yet to recover from the global impacts of the coronavirus, and the company expects only modest growth over the next several years.

For thermal coal used in power plants, the company acknowledged sharp declines in global coal use from developed economies. 

[Staff Report]

More: Peabody may be flirting with bankruptcy—IEEFA

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