August 10, 2016 / 12:32 PM / a year ago

Bankrupt coal miner Peabody's lenders approve business plan

Aug 10 (Reuters) - U.S. coal miner Peabody Energy Corp said its business plan was approved by its debtor-in-possession lenders, clearing the first step towards emerging from Chapter 11 bankruptcy.

The company said on Wednesday it would also review its assets in Australia to run a “smaller but more profitable” business in the country. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Kirti Pandey)

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