Two Wyoming coal mines close, send 700 workers home after bankruptcy filing

imaginethat

Forum Staff
Oct 2010
67,329
27,219
Colorado
#1
The fourth and sixth largest coal mines in the US are about a half-billion dollars in debt and eight million shy of meeting payroll expenses.

The "War on Coal" isn't any war. It's how the capitalistic "free market" operates.

And, operating at a loss is still better than shutting down these huge open pit mines. The miniing companies' permits require reclamation, hundreds of millions of dollars worth, and they don't have the cash.

Guess who'll pick up the bill?


Two Wyoming coal mines close, send 700 workers home after bankruptcy filing
Two coal mines in Wyoming closed and sent 700 workers home Monday afternoon after their owner filed for bankruptcy, the latest blow to a region that has been battered by an economic downturn in the fossil fuel sector.​
Blackjewel LLC, which operates Eagle Butte and Belle Ayr mines near Gillette, sent the workers home after a bank denied the company $20 million in financing to continue operations during bankruptcy proceedings, CEO Jeffery Hoops said.​
Eagle Butte and Belle Ayr are the fourth- and sixth-largest producing coal mines in the country. The sudden closure hearkens back to March 2016, when two nearby mines laid off more than 460 workers, touching off economic shock waves that are still being felt in the Powder River Basin today.​
...Blackjewel is the fifth coal producer in Wyoming to file for bankruptcy in recent years. Bristol, Tennessee-based Alpha Natural Resources filed for bankruptcy in 2015, followed by Peabody Energy and Arch Coal in 2016. Westmoreland Coal, which operates the Kemmerer Mine in southwest Wyoming, filed for bankruptcy in October.​
...A decade ago, Campbell County produced over 400 million tons of coal. Last year, output sank to 283 million, according to the Wyoming Mining Association.​

More:Two Wyoming coal mines close, send 700 workers home after bankruptcy filing
 
Likes: Clara007
Apr 2013
37,519
25,575
La La Land North
#2
Maybe their coal wasn't so beautiful and clean? :lol::lol::lol:

Funny as hell till you think about the reclamation costs.
 
Likes: Clara007

imaginethat

Forum Staff
Oct 2010
67,329
27,219
Colorado
#3
Maybe their coal wasn't so beautiful and clean? :lol::lol::lol:

Funny as hell till you think about the reclamation costs.
Pure out-of-pocket expense that ain't in the companies' pockets. It's in the taxpayers' clean, beautiful pockets.

5d1a33bae4179.image.jpg

Just lovely, isn't it?

Wyoming-Coal-Mine-1024x681.jpg
 
May 2019
380
85
USA
#6
Its actually pretty common to reclaim strip mines as a lake. I think that is a sign of the economy in China or India more so than the US. Its possibly an example of the trade war fall out. China slapped a tariff on US Coal, and opted for Australian coal
 

imaginethat

Forum Staff
Oct 2010
67,329
27,219
Colorado
#7
Its actually pretty common to reclaim strip mines as a lake. I think that is a sign of the economy in China more so than the US. Its possibly an example of the trade war fall out
It's economics. Coal pollutes, leaves tailings, requires reclamation, creates fly ash, holding ponds, stack scrubbers, while natural gas doesn't. Trump was a shyster to lead on the nation's coal miners for their votes.
 
Likes: Hollywood
May 2018
5,677
3,681
Chicago
#8
It's economics. Coal pollutes, leaves tailings, requires reclamation, creates fly ash, holding ponds, stack scrubbers, while natural gas doesn't. Trump was a shyster to lead on the nation's coal miners for their votes.
Not too mention that it's finite. We wouldn't be able to use it forever anyway.
 
Sep 2017
2,259
1,143
Hell
#9
Pure out-of-pocket expense that ain't in the companies' pockets. It's in the taxpayers' clean, beautiful pockets.

View attachment 4263

Just lovely, isn't it?

View attachment 4264
Maybe they will fill up with water and become Lake Stupidity.
Big exvacation sites, such like this mine also often become landfill sites. They just keep laying garbage and dirt until it reaches original ground level. It took me years of hauling stuff to landfill dump sites and going down that circular path before I realized why the bottom of these pits were so deep into the earth.
 
May 2019
246
55
USA
#10
Not too mention that it's finite. We wouldn't be able to use it forever anyway.
Nuclear is the only forever option. Solar is a disaster in the making once all those panels start piling up in landfills. It also requires a lot of land that damages habitat, and birds burst into flames flying over them.
 

Similar Discussions