Fourth-largest coal producer in the US files for bankruptcy

Fourth-largest coal producer in the US files for bankruptcy

  • Cloud Peak Energy, the US’ fourth-largest coal mining company, filed for Chapter 11 bankruptcy late last week as the company missed an extension deadline to make a $1.8 million loan payment.
  • In a statement, Cloud Peak said it will continue to operate its three massive coal mines in Wyoming and Montana while it goes through the restructuring process.
  • Cloud Peak was one of the few major coal producers who escaped the significant coal industry downturn between 2015 and 2016.
  • According to the Casper Star Tribune, Cloud Peak shipped 50 million tons of coal in 2018.
  • According to the Star Tribune, a Wyoming landowner’s group called the Powder River Resource Council echoed some concerns about Cloud Peak’s ability to pay for mine reclamation after its bankruptcy.
  • Correction: An earlier version of this story listed Cloud Peak as the third-largest coal producer in the United States.
  • Cloud Peak slipped from third-largest coal producer in the US to fourth-largest coal producer in 2018.