The coal miner has reported a loss of $2 billion during last year compared to $787 million in 2014. Revenue has decreased 17% to $5.6 billion due to fall in average price and quantity of its sold-out coal. The mining company predicts for further decline in demand this year due to reduced use of coal by the US utilities accompanied by lower demand from overseas markets, according to a report published in CNN Money.

Following the filing, shares of Peabody have been witnessed to tumble around 43% on Wednesday morning in the New York Stock Exchange. Shares of the company have lost half of their value during the last three months while 97% over the past year. Price of a share has hit $299 during the first quarter of 2014, reports The Guardian.

Troubles of the teetering industry have attracted larger political debate among the US presidential hopefuls. Most Democrat candidates have advocated for a transformation towards cleaner energy sources getting concerned on the effects of burning fossil fuels.

Meanwhile, Republican hopefuls have expressed their concerns over job losses in the coal sector due to adoption of policies cutting carbon emissions. However, analysts don't consider this as the end of coal industry referring the fact that just under one-third of the US grid is still powered by coal. Furthermore, hundreds of mines are still profitable and operating, another point of their arguments.