Peabody Energy, world's largest private coalminer, may file for bankruptcy
by Joanna Walters from Environment | The Guardian on (#179KW)
Company says there's 'substantial doubt' it will go on after delaying $70m payment amid slowing global economy and tougher environmental standards
The world's largest private coal mining company is teetering on the edge of bankruptcy, driven to the brink of collapse by plummeting energy prices around the world, cheaper and less polluting rivals such as natural gas, and widespread economic uncertainty.
US mining giant Peabody Energy announced in New York on Wednesday that it is facing the prospect of filing for bankruptcy protection, a legal strategy to shield it from its creditors while it restructures, after failing to make a routine interest payment on its debts.
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