In its plan, Peabody has projected sales volumes of 168 million tons this year will rise to between 194 million and 197 million tons annually between 2018 and 2021. Revenues will hold stable at $4.4 billion to 4.6 billion.

The company is seeking to implement a “diversified platform” that will generate positive cash flows across all of Peabody’s business cycles while also producing returns to fuel its future growth initiatives.

“Within the Americas, this includes an unmatched portfolio of assets in the PRB (Powder River Basin) and Illinois Basin that continues to create value in the face of reduced coal demand,” it said. “Within these basins, the company, among other things, looks to drive lower costs through synergies and provide greater value, whereas in the Southwest and Colorado, the company anticipates managing for cash generation.”

In Australia, the plan’s focus reinforces its core interests, both metallurgical and thermal.

“The company anticipates a smaller but more profitable platform focused on high-quality products and/or top-tier assets to capitalize on higher growth in Asia,” adding that a reduction of metallurgical volumes over the plan’s five-year life is being contemplated with the assumption of strong Australian currency and no “major uplift” in pricing.

Peabody Energy President and CEO Glenn Kellow noted that Peabody can potentially not just survive, but also thrive long-term despite market obstacles.

“We are pleased to advance a realistic plan that recognizes both the challenges and opportunities related to the company and industry,” he said. “As Peabody focuses on emerging stronger from the Chapter 11 process, we look to capitalize on our strengths, build upon our positive operating performance, reduce our overall debt and fixed charges, and pursue additional improvements for long-term success. Peabody has a strong asset base and skilled workforce intent on creating maximum value in an essential industry.”

The company is hoping to enter its reorganization plan by the end of the year.

Peabody’s current mining portfolio stretches over eight states; its controls a total of 6.3 billion tons of coal reserves in the United States and Australia.