Alpha, which filed for bankruptcy in August last year, is scheduled to ask a federal judge Thursday to approve its exit plan despite objections to it.
Arch Coal Mining News
She is still trying to recover from her televised comments in March, when she said she would put coal companies and miners out of business.
These mines accounted for more than one quarter of U.S. coal production in 2015.
The company's executives seem oblivious to the downward trend in the coal markets.
Miner seeks to cut $4.5 billion in debt.
Use of coal for power generation peaked about two years ago, a new report suggests.
While the US Democratic presidential candidate doesn’t believe in coal mining, she plans to invest in job training and education, infrastructure and healthcare, and projects to turn abandoned mines into new real estate.
The odds that the proposed Millennial coal-terminal expansion in Longview, Wash., will ever happen are plummeting right alongside Arch Coal’s fortunes.
Both saw their stock collapse not just on these news, but also amid concerns that they will have to pay more for insurance that covers environmental damage.
Second-quarter coal production at Central Appalachia's 25 top-producing mines totaled 11.63 million tons, up about 2.9% from the 11.30 million tons produced in the same quarter a year-ago.
Even if the railroad capacity problem is fixed, mine capacity may not be able to grow fast enough to meet demand, say experts.
Result of depressed prices and over-supply.