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Peabody bankruptcy shows need for rehabilitation bonds and transition planning

Media Release
Larissa Waters 13 Apr 2016

With Peabody filing for bankruptcy today in the US, the Queensland and New South Wales governments must urgently secure outstanding rehabilitation bonds from the company.

Qld Senator Larissa Waters, Australian Greens Deputy Leader and mining spokesperson, said:

"The state regulators must urgently secure adequate rehabilitation bonds from Peabody for their Queensland and New South Wales mines.

"We need this rehabilitation money in place before coal companies go bust so it can fund local jobs in site rehabilitation for workers who are laid off.

"Absurdly, the Queensland Government reportedly gave Peabody $24 million in discounts on their rehabilitation bonds on the basis that Peabody is financially sound.

"The Liberal and Labor parties need to finally see the writing on the wall that the coal industry is dying because it can't compete with clean energy, especially in a world tackling global warming.  

"We Greens have announced a transition plan that would provide vital jobs and training in mine site rehabilitation, clean energy and other 21st century industries," Senator Waters said.


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