The reason to take a close look at this company is twofold: it's one of the most diversified miners
around, so one commodity's underperformance shouldn't have as significant an impact on the company as it would if it was just a
coal or iron ore
producer.
As a result of the strong global demand for steel, coking
coal producers negotiated an increase of
around 120 per cent in contract prices, with iron ore contract prices generally rising by more than 70 per cent (Graph 39).
Peabody Energy follows rival U.S.
coal giant Arch Coal in filing for bankruptcy this year, and according to Reuters, producers covering around 45 percent of U.S. coal output have filed for bankruptcy in recent ye
coal giant Arch
Coal in filing for bankruptcy this year, and according to Reuters, producers covering around 45 percent of U.S. coal output have filed for bankruptcy in recent ye
Coal in filing for bankruptcy this year, and according to Reuters,
producers covering
around 45 percent of U.S.
coal output have filed for bankruptcy in recent ye
coal output have filed for bankruptcy in recent years.