Peabody Biggest Loss Follows Writedown of Top U.S. Coal Mine
- Largest U.S. coal producer reported $1.42 billion writedown
- Company “might have cut the mine life in half,” analyst says
This article is for subscribers only.
Peabody Energy Corp. reported its biggest loss ever after writing down more than half the value of its North Antelope Rochelle mine in Wyoming.
The largest U.S. coal producer took a $1.42 billion impairment charge on the sprawling surface operation, leading to a second-quarter net loss of $1.54 billion, according to a statement Wednesday.