Alpha Natural Resources Inc., the second-biggest U.S. coal producer, increased a loan it’s seeking to refinance debt to $625 million from $500 million, according to a person with knowledge of the transaction.
After working 37 years in the coal mines of West Virginia, Ronny Justice punctuates his sentences with coughs. He lost his job a year ago, leaving him without health insurance just as he’s battling the early stages of black-lung disease.
Alpha Natural Resources Inc., the second-biggest U.S. coal producer, posted a smaller-than- estimated first-quarter loss after an increase in the price of the commodity mined in the Western U.S. and sold to power utilities.
Walter Energy Inc., the U.S. producer of metallurgical coal that is the target of a shareholder action, fell the most in 18 months after unexpected slowing of economic growth in China, the metal’s biggest user.
Alpha Natural Resources Inc. , the third-biggest U.S. coal producer, agreed to buy Massey Energy Co. for about $7.1 billion in cash and stock, gaining the largest coal company in the U.S. Central Appalachian region.
Coal demand is so great Alpha Natural Resources Inc. is buying Massey Energy Co. in the most expensive deal in the industry’s history, 10 months after Massey caused the worst U.S. coal mining accident in four decades.
When a federal labor board ruled in September that a West Virginia coal mine had illegally refused to hire union workers, 61-year-old Dave Preast thought his nine- year ordeal was finally coming to an end.
Alpha Natural Resources Inc. will limit new borrowing because the miner has enough cash on hand and expects coal export growth to increase global sales, Chief Financial Officer Frank Wood said in a telephone interview.