Coal companies that have filed for bankruptcy during Trump presidency

09 Oct 2018

Westmoreland Coal Company, one of the oldest mining companies in the country, files Chapter 11 bankruptcy in a Texas court. In the next four years, a slew of major coal-fired power plants in the Ohio Valley - a major area where the company serves - are expected to shut down, including its largest customer American Electric Power (14% revenue). The company will continue normal operations through the bankruptcy case by using cash collateral and does not expect to lay off workers at this time.
Westmoreland Coal Company, one of the oldest mining companies in the country, files Chapter 11 bankruptcy in a Texas court. In the next four years, a slew of major coal-fired power plants in the Ohio Valley - a major area where the company serves - are expected to shut down, including its largest customer American Electric Power (14% revenue). The company will continue normal operations through the bankruptcy case by using cash collateral and does not expect to lay off workers at this time.
Last Modified: 20-Oct-2018 6:03 PM

Source Multiple | Photo credits: Andrew Graham/WyoFile

14 Oct 2018

Tennessee coal mining company - Mission Coal - files for Chapter 11 bankruptcy protection. The company was able to deliver just 1/3 of the 6.5 million tons annual target due to "adverse mining conditions, combined with rail and port disruptions". It owes around $100 million to its bankers and $72 million to a group of more than 50 creditors, including nearly $10 million in pension and health benefits to the United Mine Workers of America. About 800 workers and as many retirees would be affected by the bankruptcy.
Tennessee coal mining company - Mission Coal - files for Chapter 11 bankruptcy protection. The company was able to deliver just 1/3 of the 6.5 million tons annual target due to "adverse mining conditions, combined with rail and port disruptions". It owes around $100 million to its bankers and $72 million to a group of more than 50 creditors, including nearly $10 million in pension and health benefits to the United Mine Workers of America. About 800 workers and as many retirees would be affected by the bankruptcy.
Last Modified: 20-Oct-2018 6:03 PM