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Court approves Alpha Natural Resources bankruptcy plan

Staff Writer |
Coal producer Alpha Natural Resources eceived court approval for a bankruptcy plan which includes the sale of certain core assets to lenders and outlines how to pay for cleanup of mines.

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Contura Energy, a newly-formed group consisting of Alpha Natural Resources' first-lien lenders, will purchase the company's two Powder River Basin mine complexes in Wyoming and three in West Virginia and Virginia, among other assets.

Contura will also provide Alpha with a $35 million credit line and will contribute up to $100 million to help Alpha's ongoing reclamation activities.

Bristol, Virginia-based Alpha Natural Resources, once one of the nation's biggest coal producers, filed for Chapter 11 last August.


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