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Environmentalists Question Peabody's Ability to Clean Up Three Mines in Southern Illinois

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Peabody Energy is facing a possible bankruptcy....   but the company has guaranteed the state of Illinois it can cover the cost of cleaning up coal mines that it shutters.

Environmentalists are skeptical Peabody could cover that 92-million dollar cost.
Peabody has three mines in far southern Illinois.

It's required by law to pay for the clean-up if any of those mines are closed.

The Illinois Department of Natural Resources has allowed the company to "self-bond"... or guarantee it's got the money.

But Howard Learner with the Environmental Law and Policy Center in Chicago questions Peabody's ability to pay... considering its financial situation.

"We are very skeptical if self-bonding is appropriate. Illinois tax payers shouldn't be left holding the financial bag."

The center wants Illinois to require Peabody to get insured for mine cleanup or put aside the money DNR officials say they'll review Peabody's self-bonding after the company turns paperwork in at the end of the month.

But they could declare bankruptcy before then.

 

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