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
Halloween Approaches, and Night School Is in Session
The House of Art in Bluefield, West Virginia, looks like a haunted tower, making it the perfect location for its sixth annual haunt event: Night School. The Night School will be open every Friday and Saturday night through Oct. 31.
‘The Most Perfect Act of Love’
After losing its rural pride celebration, hundreds of people attended the second annual Affirming Sumner Pride celebration on a 24-acre farm dubbed “Fruity Farm” in Bethpage, Sumner County, Tennessee.
Signs of Life
In the Nantahala National Forest, a team of biologists spotted Indiana bats, an endangered species that hasn’t been seen in North Carolina for the last 11 years.
‘First Line of Defense’
During Hurricane Helene and its aftermath, rural fire departments and other first responder hubs played critical roles in keeping their communities safe, even without power and cut off from outside support for days or weeks after the storm. Two years later, plenty of work remains to ensure these hubs have the resources they need to operate day to day and be ready when emergencies or natural disasters strike.
The Rocky Road — and Bridge — to Recovery
Hurricane Helene is estimated to have damaged nearly 7,000 private roads and bridges in Western North Carolina. Two years later, many restoration projects are complete, but the journey hasn’t been easy — and isn’t over for others.
After 20 Years, Letcher County Prison Proposal Is Still Alive, Though Obstacles Remain
A $605 million proposal for a federal prison on a former strip mine site in Letcher County, Kentucky, championed by U.S. Rep. Hal Rogers, refuses to die, despite local opposition, a lack of support from the executive branch and numerous other obstacles.
Leave a comment
Your email address will not be published. Required fields are marked *
Leave a Comment