Peabody | St. Louis Public Radio

Peabody

A view of the outside of the Peabody Energy building in St. Louis.
St. Louis Public Radio

Peabody Energy has emerged from bankruptcy with less debt and a shift in focus. The St. Louis-based coal company spent roughly a year under Chapter 11 protection and some of the same industry-wide challenges remain – government regulation and cheaper energy producing options, such as natural gas.

In a release when Peabody emerged from bankruptcy earlier this month, Chief Executive Officer Glenn Kellow sounded upbeat.

St. Louis Public Radio

St. Louis-based Peabody Energy will set aside part of the funding it promised toward future mine reclamation in Illinois.

The coal giant reached a settlement with the Illinois Department of Natural Resources this week. The agreement puts “super-priority” status on $12.9 million for mine reclamation in Illinois, placing that funding ahead of other entities with claims in Peabody’s bankruptcy suit.

The motion for the agreement will be heard by a federal judge on Sept. 15.