Peabody Energy Corporation, the largest coal operator in the Western world and second largest globally, filed for bankruptcy on the 13th of April. The company produces 170 million metric tons of coal a year, equivalent to one fifth of the electricity consumed in the United States.
The announcement follows news of other major US coal companies tanking in 2015, among them Arch Coal and Alpha Natural Resources Inc. Meanwhile, across the Atlantic, the UK’s last deep coal mine recently shut as well. 350.org reports Peabody’s fall marks the 50th coal company to declare bankruptcy since 2012.