Coal giant Peabody posts $2.7 billion Australian loss

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Wilpinjong coal mine. One of two mines Peabody Australia Holdco wants to expand despite posting huge losses

The bad news continues for mining giant Peabody Energy with financial statements showing the company’s Australian arm Peabody Australia Holdco losing 2.7 billion dollars last year.

It’s a big increase on its 1.2 billion dollar loss in 2014.

After speculation earlier in the year, its American parent company filed for chapter 11 bankruptcy in April – but not before loaning its Australian arm $250 million in debt.

At this point though, can Peabody go on in Australia?

 

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