Columnist Bob LeResche says Peabody Energy must be required to post surety bonds so taxpayers are not stuck with costs of reclaiming its Wyoming strip mines.
Justice Department lawyers claim that plans revealed in Alpha Natural Resources bankruptcy proceedings show the company is headed for a Chapter 7 ‘liquidation’ not a Chapter 11 ‘reorganization’.
Wyoming coal company Peabody Energy files bankruptcy
GILLETTE — Rumors about the coal industry are common in northeast Wyoming where strip mining provides 5,000 direct jobs and supports about three times that in the mine services sector. But when Arch Coal filed for Chapter 11 bankruptcy in
Peabody Energy cut 235 miners, and Arch Coal cut 230 miners on Thursday morning. The reductions represent about 15 percent of each company’s Wyoming workforce.