Arch Coal
WY & Arch Coal Strike Deal On Cleanup Liabilities
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Wyoming regulators and a bankrupt coal company have reached a resolution on the company’s substantial outstanding coal mine cleanup costs.
Inside Energy (https://insideenergy.org/tag/arch-coal/page/2/)
Wyoming regulators and a bankrupt coal company have reached a resolution on the company’s substantial outstanding coal mine cleanup costs.
Another coal giant, with operations all over the US, declared bankruptcy today.
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.
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.