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Largest US Coal Producer Files for Bankruptcy
Peabody Energy, the world's largest private-sector coal producer, filed for bankruptcy on Wednesday in a U.S. court, citing "unprecedented" industry pressures and a sharp decline in the price of coal.The company said it will continue to operate while in bankruptcy, while working to reduce debt and improve cash flow. Company has about 8000 employees. The coal produced by the company was used to generate about 10% of the electricity used in the US in 2014 Posted by: lord garth 2016-04-14 |
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