- Associated Press - Friday, June 26, 2015

CASPER, Wyo. (AP) - Alpha Natural Resources is appealing a state ruling that makes the company no longer able to forgo more than $400 million in bond payments.

The Casper Star-Tribune reports (https://bit.ly/1TRxpIY ) the self-bonding program allows mining companies to forgo payment on reclamation bonds, but they must prove they can cover their mine’s cleaning costs.

Department of Environmental Quality officials notified Alpha May 21 that the company didn’t meet the program’s criteria. The miner was given 90 days to come up with $411 million in reclamation obligations.

An Alpha spokesman declined to comment on the matter.

Wyoming regulators have been forced to deal with the financial struggles of some of the state’s largest coal companies.

On Thursday, Alpha’s stock was trading for 36 cents a share, down from $65 a share in 2011.


Information from: Casper (Wyo.) Star-Tribune, https://www.trib.com



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