Armstrong Energy, the parent company of high-sulfur Illinois Basin steam coal producer Armstrong Coal, said it may not be able to continue unless it is able to successfully restructure about $207 million in long-term debt with bondholders. The St. Louis-based company, which produced more than 9 million tons from its western Kentucky operations just a few years ago but considerably less since, has been affected by the downturn in the U.S. steam coal market blamed on low natural gas prices, lower electric utility demand and more stringent government environmental regulations, among other factors.
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