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"Coal company Peabody Energy, which is under Chapter 11 bankruptcy protection, has flagged further reductions in its metallurgical coal production in Australia in the five-year period to 2021, as part of the group’s strategy to build a “smaller, but more profitable” platform in the country. Peabody has already completed the sale of undeveloped tenements in Australia as part of an ongoing asset optimisation programme and it intends to place the two-million-tonne-a-year Burton mine, in Queensland’s Bowen basin, in care and maintenance later this year.", www.miningweekly.com
"Peabody Energy announced it has received approval of its business plan by the company's debtor-in-possession (DIP) financing lenders. The business plan forms the foundation for the plan of reorganization that the company expects to submit before the end of the year. Both the business plan and the plan of reorganization are essential milestones...", www.abladvisor.com
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