Green group asks regulators to halt Peabody self-bonding amid losses

摘要

The Environmental Law and Policy Center in Chicago on Feb. 12 asked state and federal regulators to stop allowing Peabody Energy Corp. to use selfbonding in lieu of posting conventional bonds for mine remediation of its Illinois and Indiana coal mines, The Associated Press reported Feb. 14. The financing mechanism allows Peabody to pledge that it has adequate assets to pay for the roughly $92 million needed to reclaim three southern Illinois mines and approximately $163 million needed to remediate six of its Indiana mines, once coal is no longer available for extraction or the company shuts down, said the report.