Major Coal Mining Company Announces New Ownership

Major Coal Mining Company Announces New Ownership

CHICAGO (AP) – A major U.S. coal mining company has emerged from federal bankruptcy protection under a new name and ownership group.

Murray Energy Holdings said Thursday its Chapter 11 plan approved in federal bankruptcy court in Ohio became effective Wednesday. The company noted it has completed the sale of its assets to an entity formed by former creditors.

The new company, Ohio-based American Consolidated Natural Resources Inc., is the largest privately owned U.S. coal operator. It has active mines in Alabama, Kentucky, Ohio, West Virginia and Utah. The company also has separate management services agreements to operate Foresight Energy mines in Illinois including Sugar Camp and Williamson.

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