amid the weakened coal market<\/a>.<\/p>\nAt the time, it highlighted \u201cindustry pressures in recent years including a dramatic drop in the price of metallurgical coal, weakness in the Chinese economy, overproduction of domestic shale gas and ongoing regulatory challenges<\/span>\u201d as key reasons for filing.<\/p>\nPeabody president and CEO, Glenn Kellow, said the \u2018The New BTU\u2019 will create value for both shareholders and stakeholders over time.<\/p>\n
\u201cPeabody is the only global pure-play coal investment, and we have the scale, quality of assets and people, and diversity of geography and products to be highly competitive<\/span>,\u201d he said<\/p>\n\u201cWe also have taken significant steps to create a capital structure to succeed through all cycles.<\/p>\n
\u201cOur financial focus will now be on reducing debt, targeting high-return investments and returning cash to shareholders over time.\u201d<\/p>\n
Peabody has reduced its debt by more than $5 billion over the past year. During that time, it has also accelerated its coal mine restoration, achieved record safety and strengthened its Australian arms.<\/p>\n
\u201cWe thank our 6,700 employees and all stakeholders for their widespread support for the company and our plan of reorganisation,\u201d Kellow added.<\/p>\n
\u201cWe look forward to this next phase in our company\u2019s history.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Peabody Energy has come out of Chapter 11 bankruptcy and will begin trading in the New York Stock Exchange under the ticket symbol BTU. The company filed bankruptcy last year to reduce its debt amid the weakened coal market. At the time, it highlighted \u201cindustry pressures in recent years including a dramatic drop in the … Continue reading “Peabody arises from bankruptcy”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-2320","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-Bq","jetpack-related-posts":[{"id":611,"url":"https:\/\/yinghuiinternational.com\/index.php\/2014\/11\/27\/glencore-and-peabody-to-merge-hunter-valley-coal-mines\/","url_meta":{"origin":2320,"position":0},"title":"Glencore and Peabody to merge Hunter Valley coal mines","author":"yinghui","date":"November 27, 2014","format":false,"excerpt":"Glencore and Peabody Energy have agreed to jointly manage the nearby Wambo and United coal mines in the Hunter Valley, the first joint venture of its kind in the region. The 50-50 joint venture will combine Wambo's open cut mining operations with United's adjacent reserves and is expected to kick\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"wambo_300","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2014\/11\/wambo_300.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1601,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/04\/visual-capitalist-outlines-how-coal-from-hero-to-zero-in-only-five-years\/","url_meta":{"origin":2320,"position":1},"title":"Visual Capitalist outlines \u201chow coal from hero to zero\u201d in only five years.","author":"yinghui","date":"July 4, 2016","format":false,"excerpt":"There was a time in the not so distant past that coal was the unquestioned all-star of the energy mix. Just over a decade ago, coal-fired power generated more than 50% of U.S. electricity. Coal is cheap and found almost everywhere, but it\u2019s also extremely easy to scale with. If\u2026","rel":"","context":"In "Big Data"","block_context":{"text":"Big Data","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/big-data\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":754,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/01\/03\/consortium-to-develop-30-mty-tavan-tolgoi-coal-mine\/","url_meta":{"origin":2320,"position":2},"title":"Consortium to develop 30 Mt\/y Tavan Tolgoi coal mine","author":"yinghui","date":"January 3, 2015","format":false,"excerpt":"It is widely reported that a consortium of China\u2019s Shenhua Energy, Japan\u2019s Sumitomo and Mongolia\u2019s Energy Resources (a subsidiary of Mongolian Mining Corp) has won the tender to develop the 7,400 Mt Tavan Tolgoi coal deposit in Mongolia, though none of the companies\u2019 websites currently carry any announcement. The consortium\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":713,"url":"https:\/\/yinghuiinternational.com\/index.php\/2014\/12\/18\/downers-mining-division\/","url_meta":{"origin":2320,"position":3},"title":"Downer\u2019s Mining division","author":"yinghui","date":"December 18, 2014","format":false,"excerpt":"Downer\u2019s Mining division has been successfully delivering contract mining and civil earthmoving services to an impressive list of global clients for over 90 years. It is now one of Australia\u2019s leading diversified mining contractors, with around 3,500 employees working across more than 50 sites in Australia, New Zealand, Papua New\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":956,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/08\/28\/956\/","url_meta":{"origin":2320,"position":4},"title":"The 100 worst performing miners","author":"yinghui","date":"August 28, 2015","format":false,"excerpt":"Taking a look at the 100 worst performances of miners (excluding microcaps) on the NSYE, LSE, TSX and ASX on Monday confirms the view. The top ten of the losers on Monday were a broad slice of the mining sector. Glencore \u2013 a diversified miner \u2013 was down 13%, putting\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1751,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/17\/the-top-ten-trends-for-mining-in-2016\/","url_meta":{"origin":2320,"position":5},"title":"The top ten trends for mining in 2016","author":"yinghui","date":"August 17, 2016","format":false,"excerpt":"Mining is changing. We are currently in an era of extreme volatility in terms of commodities, where we can experience the swiftest growth in value, and one of the sharp drops, all within a few weeks of one another. Up to this point it has been a tale of decline,\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"Downer-said-to-take-400-Macmahon-workers-at-Christ.jpg","src":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2016\/04\/06054806\/Downer-said-to-take-400-Macmahon-workers-at-Christ-300x225.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/2320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=2320"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/2320\/revisions"}],"predecessor-version":[{"id":2321,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/2320\/revisions\/2321"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=2320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=2320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=2320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}