Walter Energy Inc. and other U.S. producers of metallurgical coal slumped after Bank of America Corp. said supply and demand fundamentals for the commodity will be “depressed” for the next several years.
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 largest U.S. producer of coal used to make steel, slumped the most in seven months after Goldman Sachs Group Inc. cut its rating to sell and lowered price estimates for the commodity.
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.
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.
China Shenhua Energy Co. and American coalminer Alpha Natural Resources Inc. may bea mong companies interested in acquiring Whitehaven Coal Ltd., the Australian Financial Review reported in its Street Talk column, without citing anyone. Some U.S. natural resources funds also have the capacity to buy the company, which has been up for sale informally for about a year, the newspaper said.