Coal operations at Peabody Energy’s Australian mines, including at Wambo in the Hunter Valley, will continue as normal, after the company filed for bankruptcy protection in the United States.
Peabody says the move is designed to strengthen its finances amid what’s described as “an unprecedented industry downturn”.
The company maintains none of its Australian operations in New South Wales or Queensland will be affected.
Peabody is the largest coal producer in the US and announced in March that it may seek bankruptcy protection because of poor economies in countries that import coal and other factors battering the industry.
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