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Peabody’s Massive $1.42-Billion Write-Off Shows ‘New Reality in U.S. Coal Mining’
The decision by coal giant Peabody Energy to cut the declared value of the United States’ biggest coal mine by US$1.42 billion is an acknowledgement that “thermal coal mines in the U.S. have little value anymore and not much of a future,” the Institute for Energy Economics and Financial Analysis (IEEFA) writes in an assessment…