Black Diamond Mining Company LLC, which produces coal in Central Appalachia, revealed that it filed a plan with a U.S. bankruptcy court to emerge from Chapter 11 and an earlier motion to convert its case to a Chapter 7 liquidation had been withdrawn. For full story, click here
We are into the second half of the second month of 2009 and pressure on coal prices have not eased. While the long-term outlook in this sector remains strong, thanks to strong fundamentals, spot prices continue to be under pressure. The reasons are being cited as high utility coal inventories, lower demand for electricity and competition from natural gas.
Black Beauty Coal Company gave a public notice of application for renewal #2 of mining permit at the Viking Mine. For full story, click here
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