Peabody Energy to Seek Outside Bonds for Mine Cleanups

Peabody Energy will seek outside bonds for future coal mine reclamation, eschewing self-bonding as the company emerges from Chapter 11 bankruptcy (In re Peabody Energy Corp., Bankr. E.D. Mo., No. 16-42529, Notice of bonding solution 3/6/17).

Peabody, the largest coal company in the U.S., filed a notice March 6 regarding its new bonding solution in the U.S. Bankruptcy Court for the Eastern District of Missouri. The company said it will secure all coal mine reclamation obligations by arranging for roughly $1.26 billion in commercial surety bonds and entrance into the Indiana Surface Mining and Reclamation Bond Pool ...