Thursday, June 24, 2021
Home Middle Column Another coal giant files for bankruptcy

Another coal giant files for bankruptcy

-

Alpha Natural Resources has filed for Chapter 11 bankruptcy.

On Monday, a statement from the company said: “The Board of Directors of Alpha Natural Resources authorized the filing of the Chapter 11 cases to enhance the company’s future as it weathers a historically challenged coal market.”

“The relief provided by Chapter 11 will allow the company to reorganize and emerge as a financially viable business that is better positioned to compete in dynamic energy markets.”

Bloomberg reported last Thursday the company had been planning to file today.

Read more: http://www.businessinsider.com/alpha-natural-files-for-bankruptcy-2015-8#ixzz3hmjaNmoG

- Advertisment -

Related Articles

Cape Town and Dubai battle over Africa’s energy future

None of these energy-rich African nations is eager to submit to IEA demands, which seem to envision only existing OPEC nations as future producers...

Power Grid Operators, Experts And Federal Audit Office Warn Of Blackouts As Coal, Nuclear Get Phased Out

As wildly fluctuating, weather-dependent green energies come increasingly online, German grid operators and the German Federal Audit Office are warning the German government of...

Global Warming? Scott Base Antarctica Endures -115F, Cold Enough To Freeze CO2

Global warming appears to have brought near record cold to Scott Base in Antarctica, which a few days ago endured -81.7C / -115F, almost...