Virginia businessman Tom Clarke’s foray into the coal industry initially looked promising for addressing environmental and community problems. Now, however, his business model is looking questionable.
The Alliance for Appalachia, a coalition of 15 organizations, today released a report on the state of surface coal mine bonding in four Central Appalachian states. Bonds are used to ensure reclamation of mine sites should a company be unable…
Both Arch Coal and Alpha Natural Resources are undergoing bankruptcy. Alpha was allowed to issue nearly $12 million in executive bonuses, even while it tries to avoid paying some retirees’ life insurance and health benefits.
Witnessing the one-sidedness of coal bankruptcies in Appalachia and their aftershocks goes to show who has a voice and whose voices the system values. Take Alpha Natural Resources, which recently received approval to pay its executives millions in bonuses despite not having made a profit since 2011.
West Virginia communities, including Naoma and Sundial are still dealing with problems related to mountaintop removal coal mining. Toxic coal slurry impoundments, increased blasting and diminished water quality are among the challenges facing such communities at risk.
News briefs from across the energy sector.
Major coal companies are filing for bankruptcy, causing concerns that they may not clean up contaminated lands or meet their obligations to workers.
In Bankruptcy, Patriot Coal Creates its Legacy By Brian Sewell Concerns over how Patriot Coal will meet its commitments to generations of retirees have rippled throughout Appalachia. When the St. Louis-based spin-off of Peabody Coal filed for bankruptcy in July,…