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US banks pull back funding for coal firms

Hedge funds, private equity firms are also shying away due to its uncertain future

Peabody has been trying to sell three of its mines in Colorado and New Mexico to raise cash.

New York

TENS of thousands of miners were on strike and coal prices were skyrocketing in October 1902. Afraid of unrest, president Theodore Roosevelt sought the help of John Pierpont Morgan.

The powerful banker, who held great sway over the coal industry, brokered a deal with the

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