- Reuters•13 days ago
U.S. coal miner Arch Coal won court approval on Tuesday for a plan to eliminate $4.7 billion of debt from its balance sheet, the company said, clearing the path to emerge from bankruptcy in early October. The second largest U.S. coal producer filed for Chapter 11 protection in January after a failed attempt to restructure with bondholders out of court, joining a handful of other coal companies who have been forced into bankruptcy during a harsh industry downturn. Under a reorganization plan confirmed by U.S. Bankruptcy Court in St. Louis on Tuesday, the company's senior lenders will have control of most of the company.
- Market Realist•20 days ago
Among major coal mining companies, Peabody Energy has the highest debt on its books. As of June 30, it had ~$7.80 billion in the form of long-term debt.
- Market Realist•21 days ago
Most coal mining companies witnessed losses during 2Q16. Cloud Peak Energy’s adjusted net income rose from -$18 million in 2Q15 to $30 million in 2Q16.
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