Inside Energy News
Analysts: Outlook For Coal Sector Is Negative
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The outlook for the North American coal sector is negative. That’s according to a bleak industry report released by the credit ratings agency Moody’s, on Friday.
Inside Energy (https://insideenergy.org/author/leigh-paterson/page/3/)
The outlook for the North American coal sector is negative. That’s according to a bleak industry report released by the credit ratings agency Moody’s, on Friday.
Bankrupt coal company Alpha Natural Resources confirmed that it laid off 37 employees today from its two Powder River Basin coal mines.
Peabody Energy, the country’s largest coal company, filed for Chapter 11 bankruptcy protection Wednesday.
An interactive timeline detailing the collapse of Peabody Energy, the world’s largest coal company.
Alpha Natural Resources is asking a bankruptcy judge for permission to cancel certain labor union agreements and to cut retiree benefits.
Recent court documents show that Arch Coal paid executives more than $8 million in bonuses just days before the company declared bankruptcy.
In financial documents filed this week, one of the largest coal companies in the world warned that it may file for bankruptcy, in part, because the company may not be able to make upcoming debt payments.
Alpha Natural Resources filed a plan today outlining how it hopes to emerge from bankruptcy. At the heart of the plan is a proposal to sell the company’s core assets, including its Wyoming mines.
In January, the federal government notified the Wyoming Department of Environmental Quality that bankrupt coal company Arch Coal could be in violation of mining regulations. On Monday, DEQ responded to the notice, writing that it has already dealt with the alleged violation which relates to Arch Coal’s reclamation bonding.