Peabody reports US$1.55B loss

PEABODY Energy has reported a US$1.55 billion loss from its continuing operations in the June quarter and revenues of $626.7 million reflecting the impact of substantially lower shipments and weak coal pricing.

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Peabody reports US$1.55B loss Peabody reports US$1.55B loss Peabody reports US$1.55B loss Peabody reports US$1.55B loss Peabody reports US$1.55B loss

Peabody furloughed about 280 positions, including contractors, at its Wambo mine in NSW.

Seaborne revenues declined $257.5 million on 48% lower metallurgical volumes and depressed metallurgical and thermal coal prices, largely driven by the ongoing COVID-19 pandemic.