Gov. Gordon calls the announcement an ‘unfortunate, but not surprising’ sign of the industry’s economic realities.
The company, which operates two Powder River Basin mines, says exiting the thermal coal business is “the right business solution in the event we are unable to find an appropriate buyer.”
Court ruling increases the likelihood that mine closures in the PRB will happen under the ownership of smaller, more opaque, less financially stable owners, experts say.
Downtowns and the state’s cornerstone are under the gun from a pandemic response that necessitates curtailing economic activity. Economists predict prolonged impacts.
Economies of scale, shifting markets and over-capacity will all play into PRB coal’s fate, analysts say.