Sale of troubled Kemmerer coal mine in Wyoming falls through

first_imgSale of troubled Kemmerer coal mine in Wyoming falls through FacebookTwitterLinkedInEmailPrint分享Casper Star Tribune:The Virginia businessman who’d planned to purchase and operate a troubled coal mine in western Wyoming has backed out after a failure to secure bonding ahead of a deadline.Bankrupt Westmoreland Resource Partners was set to sell the Kemmerer mine in western Wyoming to Tom Clarke — a businessman from Virginia who first made his fortune in the health industry but has dabbled, sometimes controversially, in mining operations in recent years.The bankruptcy court approved a sale of the Kemmerer mine to Clarke in March for $7.5 million in cash and more than $200 million in secured promissory notes. Westmoreland lenders, however, objected to Clarke’s acquisition of the Kemmerer operation soon after, arguing that Clarke was attempting to close the sale without having first provided collateral or surety for reclamation liabilities in southern Wyoming.If Clarke had not taken over that responsibility, it would have remained with Westmoreland’s first-in-line lenders.In a meeting Tuesday in Texas to discuss the objection, it was disclosed to the parties in the bankruptcy that Clarke had rescinded his offer, following an extension and failed attempts to come to an agreement on bonding with Zurich Insurance, according to sources included in the meeting.Peter Morgan, a senior attorney for the Sierra Club, said in an emailed comment Tuesday that Clarke’s failure to secure bonding is indicative of larger issues in coal and should be noted. “The companies that operate these mines, and the lenders who have invested in them, are pretending like everything’s fine and the industry isn’t going through a historic shift as demand plummets,” he said. “But the surety bond providers who will bear the cost to reclaim these mine sites, if and when they fail, are now taking action to protect themselves.”More: Virginia businessman no longer buying troubled Kemmerer coal minelast_img read more

Eastbound lane on I-74 opens for holiday travel

first_imgBatesville, In. — On Wednesday, November 22 the Indiana Department of Transportation will open the eastbound outside lane of I-74 near the New Point exit. The move is expected to ease travel during the Thanksgiving holiday.Milestone Contractors L.P. is the contractor completing the $61 million full-depth pavement reconstruction between New Point and State Road 101 including bridge work at Little Laughery Creek and Western Creek.last_img

NSA Salutes Enugu Rangers on NPFL Title

first_imgUnmissable Incentives Limited – organisers of the Nigerian Sports Award has congratulates Enugu Rangers International Football Club for winning the 2015/2016 Nigeria Professional Football League (NPFL).In congratulating the Club, popularly called the ‘Flying Antelopes’, which thrashed El Kanemi Warriors of Maiduguri 4-0 during the final match of the season played at the Nnamdi Azikiwe Stadium, Enugu, broking a 32-year jinx to win the League Trophy, since they last won it in 1984, the Executive Director, Unmissable Incentives Limited, Mr. Kayode Idowu hailed their perseverance and doggedness throughout the matches leading up to this remarkable victory.The newly crowned champion finished the league with 63 points, three points ahead of second-placed Rivers United who defeated Akwa United 2-1 in Uyo, winning its 7th League Trophy.Idowu further commended the players, coaches and management of the team for its hard work and tenacity which has seen it rise once again to the pinnacle of the country’s domestic league competition, adding that the team should make football loving Nigerians happy by going all out to win the next edition of CAF African Champions League. “We call on the management of Enugu Rangers International to start serious preparation in earnest for the CAF Champions League in order to perform brilliantly during the continental championship,” Idowu Said.Idowu also commended the League Management Company (LMC) for its focused organization of the league, urging them to keep the flag flying. “We wish to congratulate the LMC on the successful completion of the 2015/2016 league season, we look forward to a more competitive 2016/2017 season as the LMC gradually moves to restore the glory of the Nigeria Professional Football League,” he said.Idowu afterwards used the medium to urge sports lovers to nominate the team and other teams of their choice into the ‘Team of the Year’ Category for this year’s edition of the Nigerian Sports Award. “The just concluded Nigerian Professional Football League has provided us all with a platform through which we can evaluate the performances of all the participating clubs and nominate them into the ‘Team of the Year’ Category for the upcoming Nigerian Sports Award. They can visit the official website of the award (www.nigeriansportsaward.com) or go through other social media platforms to nominate their sports personalities in the different categories” he said.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

Choose Employment over Crime – PM Holness

first_img Prime Minister Andrew Holness has used the occasion of Labour Day to encourage all Jamaicans to commit to doing work and seeking employment over crime. “I want every single able bodied Jamaican to commit to doing work and to commit to seeking employment over idleness or crime. We are providing you with the jobs, we are growing the economy and that is the way in which we are going to provide prosperity for all and remove poverty from our land,” stated Prime Minister Holness. Story Highlights The Prime Minister was was speaking at the Cumberland Health Centre in Spanish Town, on Wednesday, (May 23), one of two National Labour Day projects. Prime Minister Andrew Holness has used the occasion of Labour Day to encourage all Jamaicans to commit to doing work and seeking employment over crime.“I want every single able bodied Jamaican to commit to doing work and to commit to seeking employment over idleness or crime. We are providing you with the jobs, we are growing the economy and that is the way in which we are going to provide prosperity for all and remove poverty from our land,” stated Prime Minister Holness.The Prime Minister was was speaking at the Cumberland Health Centre in Spanish Town, on Wednesday, (May 23), one of two National Labour Day projects.Prime Minister Holness said labour is important to the creation of wealth and prosperity for the nation.“Labour is the innate God given gift to you. Everybody has the capacity of labour. You use labour to convert the other God given factors of production the land, the air, the minerals everything. Your labour is absolutely important to the creation of wealth and prosperity for the nation,” intimated Prime Minister Holness.Mr. Holness contends that the policy of the Government is to ensure that every Jamaican is involved in some form of work.As part of this policy he said that the Jamaica National Service Corp was established.“It is a means of taking in youngsters from your community who would probably be elsewhere doing something probably destructive. A part of the programme is for them to give back. So we bring them into the army where they are learning critical life skills, critical employment skills, they are earning a stipend at the same time but we require them to give back and they are giving back through their labour to the benefit of the country,” said Prime Minister Holness.Mr. Holness further said that the key of labour is to get labour into work and employment which will result in prosperity for the land.last_img read more