UPDATE 1-Alpha Natural faces shortfall in coal cleanup funding -official

April 16, 2015 2:30 PM

51 0

WASHINGTON, April 16 (Reuters) - Alpha Natural Resources Inc, a struggling U.S. coal company, may be forced to buy costly new insurance or otherwise ensure it can cover obligations for cleaning up any abandoned mines, according to officials in West Virginia.

Alpha has been allowed to leave about $262 million in cleanup liabilities uninsured in West Virginia under a federal program for coal companies that meet strict financial tests. State officials told Reuters the company may no longer qualify for that relief.

Also read: Belgium urged to break EU-Canada trade deadlock by Monday

Read more

To category page