Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Largest coal supplier to Minnesota electric utilities files for bankruptcy protection

 


The supplier of half the coal burned in Minnesota power plants, Arch Coal Inc., filed for bankruptcy protection on Monday but pledged no interruption in mining and shipments to customers like Xcel Energy and Minnesota Power.

The nation's second-largest coal producer filed for Chapter 11 reorganization and said a majority of its primary lenders had agreed to cut $4.5 billion in debt that it couldn't repay because of the depressed coal market.

http://www.startribune.com/largest-coal-supplier-to-minnesota-electric-utilities-files-for-bankruptcy-protection/364918081/

 

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