CA-Black-Transp

Rhino Plans to Expand Production

 Rhino Resource Partners posted a $2 million loss for the first quarter of 2017. Rick Boone, president and CEO of Rhino’s general partner, however, noted improvements. “The recovery in the met coal markets had a significant positive impact on the operating results for the first quarter of 2017,” Boone said. “Revenue grew for the quarter and year-over-year as well as our EBITDA. In the first quarter of 2017, we fully contracted our met and thermal forecast production for the year. We expect the improved market situation will continue to provide positive financial results for the remainder of 2017.”

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Construction to Begin This Summer on Poplar Grove

 

Paringa Resources Ltd. is proceeding to the construction phase this summer for its proposed Poplar Grove underground steam coal mine in McLean County, Kentucky, after completing a financial transaction to raise about $40 million for the 2.8 million-ton-per-year continuous miner operation that will be the Australian company’s first mine in the United States.

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Hallador Buys Coal From Gold Star

 Hallador Energy Co. President and CEO Brent Bilsland declined to comment in April on coalfield speculation that his company’s Sunrise Coal subsidiary may be interested in acquiring the on-again, off-again Gold Star underground steam coal mine, formerly known as Landree, near Jasonville in Greene County, Indiana. Bilsland said if production resumes later this year at Sunrise’s Carlisle underground steam coal mine in Sullivan County, Indiana, the mine’s capacity would be reduced from 3.3 million tons annually to about 2.5 million tons a year.

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More Coal-fired Plants in the Midwest Survive Uncertainty

 Several major coal-burning power plants in the Midwest that faced an uncertain future will remain in operation as a result of a state regulatory decision and a business transaction between two energy companies in April. In Indiana, Indianapolis Power & Light Co.’s (IP&L) 1,700-megawatt (MW) Petersburg generating station in Pike County was saved from potential closure in 2018 when the Indiana Utility Regulatory Commission (IURC) approved the utility’s application to spend $76 million on pollution controls.

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Armstrong Faces Financial Difficulties

 Armstrong Energy, the parent company of high-sulfur Illinois Basin steam coal producer Armstrong Coal, said it may not be able to continue unless it is able to successfully restructure about $207 million in long-term debt with bondholders. The St. Louis-based company, which produced more than 9 million tons from its western Kentucky operations just a few years ago but considerably less since, has been affected by the downturn in the U.S. steam coal market blamed on low natural gas prices, lower electric utility demand and more stringent government environmental regulations, among other factors.

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