- Associated Press - Thursday, May 19, 2016

STEAMBOAT SPRINGS, Colo. (AP) - Officials with Peabody Energy say they hope additional financing will help them maintain operations at the Twentymile Mine in Routt County amid bankruptcy proceedings.

The Steamboat Pilot & Today reports (https://bit.ly/1OP0mG6 ) that the U.S. Bankruptcy Court in Missouri on Tuesday approved $800 million in financing for Peabody, which is restructuring $6.2 billion in debt it could no longer make payments on.

Despite the debt troubles, Peabody officials say all of their American mining operations are cash-flow positive.

About 300 people work at the Twentymile Mine. Peabody officials say all those workers will continue to receive normal wages and benefits, pending court approval.


Information from: Steamboat Pilot & Today, https://steamboatpilot.com/

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide