Aug 10 (Reuters) - Peabody Energy Corp:
* Peabody Energy business plan approved by debtor-in-possession lenders; business plan to form foundation for plan of reorganization
* Received approval of its business plan by company's debtor-in-possession (DIP) financing lender
* Contemplates total sales volumes rising from 168 million tons in 2016 to a range of 194 to 197 million tons per year between 2018 and 2021
* Sees revenue to be largely stable between $4.4-$4.6 billion, while EBITDAR expected to rise 60-65 percent from 2016 levels by end of business plan
* "In Australia, business plan reinforces that both metallurgical and thermal sectors are core to Peabody"
* In H1 2016, completed sale of undeveloped tenements, and in late 2016 intends to follow through on placing Burton mine in care, maintenance
* Uncertain at this stage of Chapter 11 cases if proposed plan of reorganization would allow distributions with respect to equity or other securities
* It is "likely" that equity securities will be cancelled and extinguished upon confirmation of a plan of reorganization by bankruptcy court
* In Australia, business plan contemplates a reduction of metallurgical coal volumes over five-year life of business plan
* In ordinary course of business, company continues to review and optimize asset portfolio in Australia
* Peabody's business plan assumes U.S. coal demand for electricity generation grows a total of 20 to 25 million tons between 2016 and 2021 Source text for Eikon: ID:nPnsjQsYa Further company coverage: BTUUQ.PK