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.
Patriot Coal Mining News
Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.
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.
This is the third time in a month the U.S. coal miner downsizes its workforce.
The freeze on new leases for coal mined from federal lands is part of a sweeping review of the federal coal plan.
Documentary to air Jan. 26 on PBS tells the story of how coal miners came together in a protracted struggle for their rights.
In his final State of the Union address, Obama said companies leasing coal and oil rights on federal land should pay more for the effects those fuels have on climate change.
Analysts from McKinsey and Co. warn the U.S. is currently home to a collection of “zombie mines” that cannot turn a profit, but are too costly to close.
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 total number of operating coal mines in the U.S. has hit its lowest point since at least 1923, one of the earliest year on record, according to the Energy Information Administration.
Average sales margins for coal miners have fallen by about half since 2011, forcing three of the U.S.'s largest publicly traded producers to file for bankruptcy protection this year.
The planned cuts, about 21% of Murray’s workforce, will come largely at mines in Ohio and West Virginia, a state hit hard by recent coal mine closures and layoffs.
The US coal miner listed assets and liabilities of more than $1 billion each in court filings.
The coal miner, which emerged from bankruptcy only a year ago, had warned earlier this month it might have to make “substantial” job cuts at those facilities.
Patriot Coal Corporation issued WARN Act notices to all employees at the Highland mining complex located near Henderson, Kentucky, and the Dodge Hill mining complex located near Sturgis, Kentucky.
Struggling Patriot Coal (OTCMKTS:PCXCQ), one of the largest coal miners east of the Mississippi River, announced on Friday that it ratified a five year labour agreement with the United Mine Workers. "Ratification of these agreements […]