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Federal Court Set Date To Sell Cloud Peak Coal Mines in Wyoming And Montana

Coal News - Published on Thu, 20 Jun 2019

Image Source: WSJ
The Associated Press reported that a federal bankruptcy court has approved a schedule for selling a financially struggling coal company with mines in the Powder River Basin of Wyoming and Montana. The Gillette News Record reports that bids for Cloud Peak Energy's assets will be accepted until 3 pm July 8. If necessary, an auction will be held July 11. A final hearing on approving a potential sale has been set for July 18.

Cloud Peak operates the Antelope and Cordero Rojo coal mines in Wyoming and the Spring Creek mine in southern Montana. It's being forced to sell its assets to cover nearly USD 400 million in outstanding debt.

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Posted By : Sanju Moirangthem on Thu, 20 Jun 2019
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