Peabody emphasis on ‘value over volume’ leads to cuts at US thermal coal mines

摘要

In the face of recent operational setbacks and troubling global economicindicators, Peabody Energy Corp. told investors it is focusing on “value overvolume” with sharp reductions in U.S. thermal coal production but increasedattention to its metallurgical coal operations in the U.S. and Australia, as wellas the country’s thermal mines.Peabody, the largest coal company based in the U.S., is cutting back oncoal production from several of its U.S. thermal coal mines, including itsflagship Powder River Basin mine, as it focuses on a new metallurgical coalacquisition in Alabama. The company reiterated that it continues to favorshare buybacks over expanding volumes, although it is deploying significantcapital, particularly for certain Australia mines and its U.S. metallurgical coaloperation.