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I Forge Iron

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Peabody Energy, one of the world's biggest producers of coal, has warned that it is at risk of going bankrupt in the very near future, thanks to a lack of "sufficient liquidity to sustain operations and to continue as a going concern" caused largely by the continuing downturn in the coal mining industry.

In a regulatory filing on Wednesday, the US-based producer said: "There can be no assurance that our plan to improve our operating performance and financial position will be successful." Peabody has undertaken a huge program of cost-cutting in recent years to stave off a massive crash in the price of the commodity.

The above appeared in a business article today.

Many of us have experienced difficulty is obtaining "smithing grade coking coal"    It actually looks like our difficulties will continue to increase.  I posted this for your information.

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