CA-Black-Transp

OKD Files for Insolvency

On May 3, European coal producer New World Resources (NWR) said the OKD Board filed an insolvency petition with the Czech court.

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NRP Files Suit Against Foresight Energy

Natural Resource Partners L.P. (NRP) is suing Foresight Energy for breach of contract in an Illinois state court over a force majeure declared by Foresight after its Deer Run longwall steam coal mine near Hillsboro in Montgomery County initially was idled a year ago because of elevated carbon monoxide levels.

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Foresight Trying to Avoid Bankruptcy

Illinois Basin steam coal producer Foresight Energy continued to negotiate with lenders in late March to avoid becoming the latest U.S. coal company to file for bankruptcy after it failed to pay approximately $23.6 million in accrued and unpaid interest that was due on February 16.

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Peabody Lays Off PRB Miners

As it continues to consider its next financial move after warning of potential bankruptcy, Peabody Energy confirmed March 31 that it will cut 235 positions from its payroll at one of the nation’s largest mines, the North Antelope Rochelle (NAR) operation in Wyoming. Officials, who cited an alignment of the Powder River Basin (PRB) mine’s workforce with customer needs for the decision, said the impacted employees are both hourly and salaried.

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CIL to Step Up Outsourcing of Exploration and Production

Keeping an eye on achieving a 1-billion-ton-per-year target by 2020, outsourcing is the new mantra for Coal India Ltd., (CIL) for both exploration and production from domestic Greenfield and brownfield mine expansion. Since more than half of the targeted coal production by 2020 would come from greenfield coal projects, the Indian mining behemoth has decided for the first time to rope in external exploration agencies to conduct surveys and detailed exploration to determine “proven” reserves in new coal blocks under the fold of CIL.

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