CLOSER TO HOME –
THE DENVER COAL
COMPANY – WHICH OWNS
THE ROSEBUD MINE AT
COLSTRIP – HAS FILED
FOR BANKRUPTCY. WESTMORELAND COAL
ANNOUNCED TODAY IT
WILL FILE FOR CHAPTER
11 BANKRUPTCY
PROTECTION. WESTMORELAND
INTERIM C-E-O MICHAEL
HUTCHINSON SAYS THE
DECISION COMES AFTER
MONTHS OF
CONVERSATIONS WITH THE COMPANIES
CREDITORS. JUST LAST WEEK -THE
COMPANY ANNOUNCED
IT HAD OBTAINED A LOAN
PAYMENT EXTENSION
THROUGH MONDAY – IT
WAS THE LATEST IN A SERIES OF EXTENSIONS
WESTMORELAND
RECEIVED THIS YEAR. HUTCHINSON SAYS THEY
WILL WORK TO
CONTINUE TO SERVE
THEIR CUSTOMERS – AS
THEY GO THROUGH THE
RESTRUCTURING PROCESS. IN ADDITION TO THE
ROSEBUD MINE –
WESTMORELAND IS ALSO
A PARTNER IN THE
ABSALOKA MINE NEAR
HARDIN -AND OWNS THE SAVAGE MINE LOCATED
ALONG THE
MONTANA/NORTH
DAKOTA BORDER. IN 2016 –
WESTMORELAND WAS
LISTED AS THE EIGHTH
LARGEST U.S. COAL