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Biggest US coal miner on brink of bankruptcy

Peabody Energy has lost 98 per cent of its market value in 12 months amid falling demand, mounting environmental regulations and competition from cheap natural gas.

New York

WELCOME to the twilight of American coal.

Peabody Energy Corp, the nation's biggest miner, is on the verge of bankruptcy, crippled by US$6.3 billion in debt. The company's announcement on Wednesday that it may file sent a decisive signal to the market: The US coal industry...

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