Alpha Natural Resources Inc., the second-largest U.S. coal producer, agreed to pay a $27.5 million fine and spend about $200 million to implement wastewater treatment systems under a proposed settlement with the U.S. government over toxic discharges from its mines in five states.
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.
The closely held West Virginia company whose chemicals-storage plant polluted the Elk River, compromising water supplies for about 300,000 people and sending more than 100 to the hospital, had completed a four-way merger nine days before the leak was discovered.
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.