- Associated Press - Thursday, June 9, 2016

CHARLESTON, W.Va. (AP) - West Virginia environmental officials say they struck a $300 million-plus deal for mine cleanup with bankrupt coal giant Alpha Natural Resources.

The Department of Environmental Protection said the agreement would cover bonding and reclamation at all the company’s active and former mine sites.

DEP says the surety bonds Alpha posted to obtain mining permits would remain. Alpha would post $100 million in penal bonds for active and inactive mines.

The company would post $39 million in letters of credit or cash bonds as additional assurances for reclamation and water projects at remaining sites.

For reclamation and water treatment, Alpha would also spend $109 million over 10 years and its buyer of Wyoming operations would add $50 million over five years.

Up to another $50 million from Alpha would be guaranteed.

The plan requires several layers of approval.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide