Major improvements are expected across the company, industry, and capital structure following the company’s emergence from Chapter 11 bankruptcy protection, he told a presentation to lenders.
“A mix of significant internal and external events result in fundamental repositioning of Peabody,” he said.
“Actions have been designed to strengthen the capital structure to sustain performance through all cycles.”
Peabody Energy CEO Glenn Kellow said the “new Peabody” would be a leading coal producer with unmatched assets, a strong US platform with access to Asia-Pacific demand, an optimised coal portfolio and a sustainable capital structure.
He said a strategic focus on operational excellence would further drive safety, productivity, and cost efficiency.
