Alpha Works With Wyoming Regulators on Self-bonding Deal

Under the terms of the agreement, Wyoming would receive a $61 million “super-priority claim.” The designation places the state at the head of the line of creditors to be paid if the company closes its doors for good. Regulators, in return, would agree to not revoke Alpha’s permits or seek additional financing to cover the cost of reclaiming the company’s two Wyoming mines. The deal is subject to approval by the U.S. Bankruptcy Court for the Eastern District of Virginia.