(Wyoming) On Tuesday, Alpha Natural Resources emerged from bankruptcy without the Belle Ayr and Eagle Butte mines.
A new company, Contura Energy, Inc., has been formed by a group of Alpha's lien-lenders, and it has acquired Alpha's two mines here in the Powder River Basin, as well as some of Alpha's mines in Pennsylvania and West Virginia.
The new company will still have Alpha's Kevin Crutchfield as its CEO, along with 2200 former Alpha employees as part of its workforce.
Crutchfield said in a statement that the formation of Contura and the success of Alpha's Chapter 11 filing and restructuring has created "a strong operational asset base, well-positioned to serve unique customer needs in today's challenged coal market."
We have reached out to Contura but they did not provide additional comment to their announcement.