Arch Coal
Arch Coal Declares Bankruptcy
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Another coal giant, with operations all over the US, declared bankruptcy today.
Inside Energy (https://insideenergy.org/series/coal-watch/page/8/)
The coal industry is in transition, challenged by a natural gas boom and regulations aimed at reducing carbon emissions. We are covering from ground zero, in Wyoming, where 40 percent of the nation’s coal is mined.
Another coal giant, with operations all over the US, declared bankruptcy today.
U.S. coal production in 2015 was lower than it has been in nearly 30 years, according to a report released by the Energy Information Administration today.
Wyoming’s largest utility is backing an initiative that would make Oregon “coal-free” by 2030.
Colorado regulators say the state is changing its approach to ensuring coal mines get cleaned up.
As Arch Coal’s financial health continues to decline, Western landowner groups are raising concerns about the company’s ability to clean up its mines in the future.
After failing to make an interest payment Tuesday, industry analysts say one of Wyoming’s largest coal companies is one step closer to potentially declaring bankruptcy. Arch Coal invoked the 30-day grace period on its $90 million payment, saying it will use that time to continue “constructive discussions with various creditors.”
The New York Stock Exchange is threatening to de-list Arch Coal, one of Wyoming’s largest coal companies.
The Secretary of the Interior called coal mine self-bonding “a big issue” in testimony to a Congressional committee Wednesday.
As the market for coal dwindles, who will foot the bill for restoring the land mined for coal to what it once was? Leigh Paterson reports for Inside Energy on the fate of billions of dollars in outstanding coal mine clean-up costs.
Arch canceled its quarterly earnings call, citing talks with creditors. But in its filings with the Securities and Exchange Commission, Arch says regardless of whether it is able to reach an agreement with those creditors, it may need to file for Chapter 11, which would allow the company to restructure.