Mining Weekly reported that Peabody Energy reported a $1 billion loss in Q4 2012, and expects to bleed further in the current quarter before beginning to rebound,  with an increase in prices to steel-making coal.

As quoted in the market report:

Peabody, the world’s largest private sector coal miner, said it expected earnings to rise due to higher volumes and prices at its Australian mines as well as lower production costs.

To view the whole Mining Weekly report, click here.