Court approves Alpha Natural Resources bankruptcy plan
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. ■