POST Online Media Lite Edition


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.

Article continues below

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.

What to read next

Warren Resources emerges from Chapter 11 bankruptcy
Vanguard Natural Resources files for Chapter 11 protection
NextEra Energy buying Energy Future Holdings in $18.4 billion deal