Australian Greens spokesperson for mining Larissa Waters said: "If Peabody goes bust, thousands of workers may suffer, and crucial jobs in rehabilitation may not materialise, as well as the toxic, polluting legacy that abandoned mines often leave.
“I wrote to the Government, Labor and Senate cross-benchers proposing a Senate inquiry to investigate that failure, and the job opportunities from adequate rehabilitation.
"I will be seeking their support in a vote in the Senate.”
State and Territory governments have failed time and time again to secure adequate rehabilitation bonds, she said.
“In NSW where Peabody has three coal mines, the government holds only $150 million for all three, while the cost of filling in just one Hunter Valley mine pit has been estimated at $2 billion.
“In Queensland where Peabody has six coal mines, the Auditor General found that bonds are ‘often insufficient’
“The collapse of coal mining threatens to become the next James Hardie scandal with multinational companies walking away leaving workers, communities and our environment in the lurch.”
Peabody Energy CEO Glenn Kellow has attempted to hose down speculation that the coal mining giant is about to face chapter 11 bankruptcy.
The Queensland and NSW governments should urgently release up-to-date data on the value of rehabilitation bonds held, and the Federal government should launch a nationwide audit of rehab bonds, Senator Waters said.
