After months of fierce opposition and rocky negotiations, Alpha Natural Resources won approval from a federal judge to emerge from bankruptcy.
Alpha’s plan to exit bankruptcy hinges on the successful transfer of its core coal assets, including mining complexes in Virginia, West Virginia and Pennsylvania, to a new company formed by its top lenders. In exchange, the lenders will forgive Alpha’s debt. The new company, Contura Energy, Inc., has pledged to cover the full cost of reclamation at the sites it will acquire and put up to $100 million toward the reclamation of mines that the reorganized Alpha will continue to own.
The plan’s approval was also contingent on several agreements between Alpha, the United Mine Workers of America, state and federal regulators and environmental groups.
— Brian Sewell
Related Articles
Latest News
More Stories
English Language Learning in Appalachia
Learning English is always difficult. But current aggressive approaches to immigration policy are creating more barriers for learners and the programs that serve them than ever before in Appalachia and beyond.
Landfill Drama
Many residents of Pike County, Kentucky, are breathing a sigh of relief since county commissioners finalized their decision to rescind a contract with an out-of-state waste management company.
Overdrive: Fossil Fuels in Appalachia
Electricity demand is on the rise. Here, we share snapshots of energy trends in the region and how methane gas, coal and data centers are affecting our communities — and how people are pushing back.
Less Support for Communities with Mine Problems
The Trump administration issued a regulation to weaken the Ten Day Notice process that helps community members call in federal enforcement when state regulators don’t do a good job policing environmental problems at coal mines
Chaos at the Tennessee Valley Authority, Cuts to Public Input
The past year has brought turmoil and uncertainty to the Tennessee Valley Authority, the nation’s largest public power provider, and its more than 10 million customers across the Tennessee Valley.
Landmark Coal Ash Protections Under Attack
The U.S. Environmental Protection Agency is planning to eviscerate important, hard-won regulations on coal ash, a toxic waste left after burning coal for energy.
Leave a comment
Your email address will not be published. Required fields are marked *
Leave a Comment