The nations largest coal company which filed for Chapter 11, owns six Indiana mines
Missouri-based Peabody Energy Corporation which is the world’s largest coal company and filed for bankruptcy Wednesday has six mines in Indiana. The Indiana portfolio includes the Bear Run mine in Sullivan County, which Peabody says is the largest surface mine in the eastern United States. Coal prices on the global market have been off for some time. The company says bankruptcy will help reposition it for growth. Company CEO Glenn Kellow says the move comes “amid a historically challenged industry backdrop.” The company alluded to the potential filing last month, citing massive debt