New Questions on Peabody’s Financial Ability to Clean Up Its Mine Leavings

first_img FacebookTwitterLinkedInEmailPrint分享Mead Gruver:An environmental group is formally questioning Peabody Energy’s ability to fully bond its coal mines in Wyoming and elsewhere in the Rocky Mountain region, saying the St. Louis-based company has insufficient funding to qualify for self-bonding.Bonding helps ensure funding is in place to fill in mines that close and restore them to a natural state. Self-bonding exempts companies from posting conventional bond in exchange for showing they have sufficient resources to pay for all potential mine reclamation.St. Louis-based Peabody has almost $900 million in self-bonding obligations in Wyoming. They cover three big open-pit mines in the Powder River Basin, a region that supplies almost 40 percent of the nation’s coal.“It’s time to stop letting bankrupt coal companies ride on the backs of the America public,” Jeremy Nichols with WildEarth Guardians said.WildEarth Guardians filed its complaint Tuesday with the federal Office of Surface Mining Reclamation and Enforcement. Groups also have raised concern about self-bonding for Wyoming mines operated by St. Louis-based Arch Coal and Bristol, Virginia-based Alpha Natural Resources, two companies that recently filed for Chapter 11 bankruptcy.Full article: Group questions Peabody Energy’s coal mine self-bonding New Questions on Peabody’s Financial Ability to Clean Up Its Mine Leavingslast_img

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