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Even Under Trump, a U.S. Coal Giant Plots Cautious Comeback Plan

  • Peabody Energy emerges from bankruptcy with scaled-down plans
  • ‘We’re more interested in growing shareholder value,’ says CEO
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(Source: Bloomberg) (Source: Bloomberg)

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President Donald Trump has been offering coal companies everything under the sun –- fewer regulations, more land to mine, a freer pass from concerns about climate change. The combination, he says, will put coal miners back to work.

But the nation’s biggest coal miner, Peabody Energy Corp., is touting a less grandiose strategy. It’s no longer looking -- or expecting -- to boost coal output significantly, said Chief Executive Officer Glenn Kellow Tuesday, after his company emerged from yearlong bankruptcy. Instead, he’s focused on a narrower objective: simply making money.