Coal giant Peabody posts $2.7 billion Australian loss
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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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