Alpha Natural execs. face fraud charges for failing to disclose $100M in liabilities

West Virginia has accused Alpha Natural Resources executives of potential fraud for not reporting $100 million in liabilities during bankruptcy proceedings. West Virginia regulators argued that had the $100 million cash burden been known, it might have thwarted Alpha Natural Resources’ restructuring agreement approval. The state’s Department of Environmental Protection said the coal miner, which filed for bankruptcy[…]

Coal, oil industries see brighter future after Trump victory

While the world’s financial markets were rocked Wednesday after US Republican candidate Donald Trump won the race for the White House, the country’s coal and oil industries began counting the days to see promises become reality. Throughout his campaign Trump repeatedly vowed to save the coal industry after years of bankruptcies and dwindling job prospects[…]

South32 scoops up Peabody's Metropolitan coal mine in $200m deal

South32 (ASX, LON, JSE:S32) has finally scored a deal by grabbing Peabody Energy’s Metropolitan coal mine in Australia for $200 million. The BHP Billiton’s spin-off, which had been looking for assets to add to its portfolio for quite a while, mainly lithium and copper ones, said the deal includes a 17% interest in the Port Kembla[…]

Peabody Energy in restructuring talks with lenders, stakeholders — sources

Peabody Energy (OTCMKTS:BTUUQ), the world’s largest privately owned coal producer which filed for bankruptcy in April, is said to have taken the first steps towards a major restructuring following the release last week of a preliminary plan, sources familiar with the matter said. The company’s lawyers plan to hold a call with lenders before the end[…]